- Breaking: BOJ steers policy on a steady course, lifts USD/JPY
Market news
28 October 2022
Breaking: BOJ steers policy on a steady course, lifts USD/JPY
The Bank of Japan (BOJ) board members decided on Friday to leave their monetary policy settings unadjusted at yet another meeting, holding rates at -10bps while maintaining 10yr JGB yield target at 0.00%.
Summary of the statement
BOJ makes decision on YCC by unanimous vote
BOJ leaves unchanged its forward guidance on interest rates, says expects short- and long-term policy rates to remain at 'present or lower' levels.
BOJ leaves unchanged its guidance on policy bias, says it will take additional easing steps without hesitation as needed with eye on pandemic's impact on economy.
Market reaction
USD/JPY catches a fresh bid on the BOJ’s status-quo, as it jumps to test 147.00 in a knee-jerk reaction. The pair is currently trading at 146.32, giving up all of the post-announcement gains.
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