BOJ as expected

Reaction from Stephen Innes, a Singapore-based senior trader at foreign exchange company Oanda:

“I suspect other central banks are quite happy for the BOJ to refrain from a policy shift at this time given such an outcome could spark a global bond market mini-tantrum.”

“Mixed reaction as the market on sidelines awaiting the follow-up presser.”

Kuroda is likely to be bombarded again with questions about the bank’s exit policy at his post-meeting press conference. Whether we hear a case of central bank verbal gymnastics to avoid the problem or he provides some guidance, the reality is the low level of inflation makes it highly unlikely he will stir the pot publicly even if such discussions are going on behind closed doors.”

Zero Hedge

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes