Bloom: BOJ Policy Not Working, Renminbi Is Boring
The yen was near a three-month low after the Bank of Japan maintained its monetary stimulus and delayed the projected timing for reaching its inflation goal beyond Governor Haruhiko Kuroda’s term. The Japanese currency held a decline from Monday against the dollar after the central bank maintained its asset purchases at 80 trillion yen ($763 billion) annually. It also kept its target for the 10-year government bond yields at around zero percent, and left the policy rate on a portion of commercial bank reserves at minus 0.1 percent. All but two of the 43 economists surveyed by Bloomberg predicted no additional easing Tuesday. HSBC Global Head of FX Strategy David Bloom discusses Asian currencies with Anna Edwards and Yousef Gamal El-Din in London and Manus Cranny in Dubai on "Bloomberg Daybreak: Europe."