Central Banks
Bank of Japan’s Stand Pat Decision Fuels Further Yen Jitters
- Yen approaches 157 after Ueda downplays price impact of yen
- Sharp yen gains at 5pm soon pared as traders await US data
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The Bank of Japan held interest rates steady and simplified its language on bond-buying and policy, an outcome that pushed the yen down to a fresh 34-year low and stirred up market jitters.
The BOJ Friday kept the range for its benchmark rate between 0% and 0.1% as widely expected by economists at the conclusion of its meeting, according to a pared-back statement with only a few lines. The central bank didn’t signal a reduction of its bond purchases, saying instead it would buy them in line with its March decision.