The Bank of Japan left interest rates unchanged at 0.5 percent last night.
This was the first meeting headed up Masaaki Shirakawa, the brand new central bank Governor. The outlook for Japan is just as dismal as the outlook for many nations around the world. Shirakawa said that he is closely watching the downside risks for the economy because the country’s inability to generate economy could weigh on domestic demand. The price action of the Japanese Yen crosses was mixed. Even though the Dow plunged, many of the Yen crosses managed to end the day in positive territory.