FOREX ALERTS >>
DailyFX Plus Login

jpy news

Article

Yen Unfazed By BOJ Minutes
Friday, 22 December 2006 10:27:21 GMT  |  Terri Belkas, Currency Analyst
Delicious
Facebook

The Japanese Yen showed little reaction to the minutes of the November 15-16 Bank of Japan MPC meeting, which yielded no surprises, as they continued to focus on the need for economic and price moves to match the expectations expressed in the BOJ’s semi-annual outlook report from October. Additionally, MPC members agreed that the Bank should explain carefully that the timing of any policy change depended entirely on developments in economic activity and prices as it should not be thought that the timing was predetermined. Following comments from BOJ member Atsushi Mizuno just a few weeks ago who said weak economic data won't prevent the bank from increasing borrowing cost, the minutes speak a less hawkish tone. Clearly, their hesitance indicates that the central bank needs more substantial evidence of price pressures and rising consumption before they can commit to a rate hike to 0.50%.

More Articles

Feedback Form