Yen Advances as Bank of Japan Refrains From Adding to Stimulus
- Attention turns to whether Kuroda will ease further on Oct. 30
- Outlook not bad enough to justify further stimulus: RBS
This article is for subscribers only.
The yen rose for a second day against the dollar after the Bank of Japan refrained from adding to its already unprecedented monetary stimulus at the end of a two-day policy meeting.
Japan’s currency also gained for the first time in five days versus the euro after BOJ Governor Haruhiko Kuroda kept his pledge to expand the monetary base at an annual pace of 80 trillion yen ($666 billion). All but two of 36 economists surveyed by Bloomberg earlier this week forecast the policy would be unchanged, while 15 predicted the central bank would expand stimulus at its meeting on Oct. 30. At a briefing in Tokyo after Wednesday’s decision, Kuroda said the BOJ will keep easing until inflation is stable.