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  1. #1
    Legendry Member milos's Avatar

    BOJ Press Conference !!!

    Yen weakened against the dollar after the Bank of Japan unanimously kept its benchmark interest rate of 0.10%, as expected, which a statement that the domestic economy continues to recover moderately, although the global outlook remains uncertain.

    USDJPY during the previous trade recorded a peak at 100.84 and subsequently consolidated at 100.78. The Bank of Japan kept the bond buying program in the amount of 50 billion yen a year. BOJ aims to help Japan to achieve sustained inflation of 2% in the 2015th year combined with fiscal measures.

  2. #2
    Legendry Member Michael Hodges's Avatar
    The pair is moving higher on a bullish signal although i wouldn't have thought this to be very bullish....unless the renewed fear of taper is helping to lift the dollar while BOJ stim is helping to push down the yen?

  3. #3
    Veteran Member hchandra's Avatar
    Strong bullish signal as higher high printed, no retracement yet, means the sentiment is strong.
    102 seems easy to reach now, I believe this happen because market fear taper will happen next month, and usually dollar rally in the last month of the year.

  4. #4
    Legendry Member milos's Avatar
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    The Japanese yen weakened after the Governor of the Bank of Japan, Haruhiko Kuroda reiterated that the economy is on the road to an annual inflation target of 2%, as aggressive monetary easing functions.

    Tomorrow the Bank of Japan will publish minutes of its latest monetary policy meeting, which contains valuable insights into the economic conditions from the perspective of the central bank.

    Forex pair EURJPY trades recorded during the previous peak of 101.91 and subsequently consolidated at 101.69.

    Against the euro, pound and franc the yen weakened. EURJPY rose to 137.95,GBPJPY jumped to 165.12 and CHFJPY rose to 112.09

  5. #5
    Legendry Member milos's Avatar
    The minutes of the meeting of the Bank of Japan has announced that the central bank still targets annual inflation of 2 percent by 2015. year.

    The Bank of Japan is an aggressive policy of appeasement, which should operate in conjunction with the government's economic reforms.

    Members of the Board of the Bank of Japan are unanimous decision kept the interest rate at the same level.

  6. #6
    Legendry Member milos's Avatar
    The Governor of the Bank of Japan Haruhiko Kuroda has vowed to oppose any new risks as well as to maintain annual inflation. He added that the BOJ will adjust monetary policy without hesitation.

  7. #7
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by milos View Post
    The Governor of the Bank of Japan Haruhiko Kuroda has vowed to oppose any new risks as well as to maintain annual inflation. He added that the BOJ will adjust monetary policy without hesitation.
    So that's what sparked today's move.....I think the BOJ could add QE sooner than they have already indicated....

  8. #8
    Legendry Member milos's Avatar
    We have been watching charts and news carefully.

  9. #9
    Legendry Member milos's Avatar
    The Bank of Japan kept its interest rate target by a unanimous decision by the committee. The economy will remain on a path of gradual recovery even after the increase in the sales tax in April 2014 year.

    BOJ will keep money market operations so that monetary base grows annual pace of about 60 billion yen. Short term bank predicts the economy will keep a moderate recovery trend.

    The Bank of Japan expects that for now the rate of consumer prices to grow annually towards its goal of the stable inflation rate of 2% by 2015.

  10. #10
    Legendry Member milos's Avatar
    Japanese Prime Minister Abe has approved the draft budget for the next fiscal year, which aims to mitigate the impact of higher taxes. State of the economy of Japan has improved.

    Prime Minister Abe has adopted a plan which envisages spending of 95.88 billion yen in the fiscal year, from April of 2014 year, while this year the sum was slightly lower 92.61 trillion yen. Estimated volume of the budget is the largest in the history of this country.

    The largest part of the additional revenue will come from an increase in the sales tax, while those funds to partially cover the costs of the social protection sector. Projective primary budget deficit should be lowered to 5.2 trillion yen to 18 trillion yen. It means that the national debt of Japan will continue to grow but at a slower pace.

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