THE TAKEAWAY: BOJ keeps rates unchanged at 0.10% > Unchanged asset purchase programs > Markets quiet ahead of Greek news.
The Bank of Japan kept rates unchanged at 0.10% along with a ¥30 trillion credit-loan and ¥40 trillion asset-purchase fund both unchanged. Furthermore, officials said the “economy is starting to pick up due to rebuilding” and will continue to monitor markets in an attempt to “ensure stability of (the) financial system” as participants prepare for the possibility of explosive event-risk Sunday, June 17 which rests on the Greek election outcome.
The Euro was relatively unchanged versus the Yen as traders stand on the side lines and wait for this weekend’s news to develop. Demand for Japan’s currency could increase if markets begin to panic.