BOJ, Interest Rate Decision!!!
Three years since Bank of Japan with Gov. Haruhiko Kuroda introduced quantitative and qualitative monetary easing (QQE) to pull Japan out of deflation. His initial target of a 2% inflation rate is more difficult to attain as a result of continued low consumer spending and low oil prices. There is approximately two years that the BOJ initially set as a time frame for its inflation goals has seen a series of postponements, with the deadline now pushed back two years to the first half of fiscal 2017. That’s why this event could be a blast tonight!?
04:00 h (London time) > BOJ Interest rate decision! Previous -0.1%, Update -0.1%!!!
BOJ leaves rates on hold, USD/JPY fall for almost 300 pips in 3 minutes!!! 111.68 > 108.73
04:00 h (London time) > BOJ’s Monetary Policy Statement!!!
BOJ will take additional easing steps in 3 dimensions of quantity, quality and interest rate, if needed to hit inflation price target!!!
Nikkei close the day at 16,666.05 with -3,61%.
There is still BOJ’s Press Conference to come in the morning!!!