The Bank of Japan (BoJ) is due with their Interest Rate Decision and Monetary Policy Statement, and the flow of information is expected to begin between 03:00 and 03:30 GMT. What impact will these have on the USDJPY pair? Learn this from the 9 March BoJ Monetary Policy USDJPY Impact Analysis.
9 March, GKFX – The BoJ is widely expected to keep their key rates on hold at -0.1% and their yield curve control untouched. The BoJ governor, Haruhiko Kuroda, has been hard at work verbalizing the central bank’s commitment to the current levels and policy targets until Japanese inflation reaches their 2% target, and it is unlikely the BoJ will be budging anytime soon.
9 March BoJ Monetary Policy USDJPY Impact Analysis
The Yen has been steadily gaining against the US Dollar as JPY bulls position themselves for the central bank’s eventual tightening of policy, and a lack of movement from the BoJ may discourage some buyers and send the Yen lower.
About the BoJ Interest Rate Decision
BoJ Interest Rate Decision is announced by the Bank of Japan. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the JPY. Likewise, if the BoJ has a dovish view on the Japanese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.
This article 9 March BoJ Monetary Policy USDJPY Impact Analysis was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
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