Japanese yen dips after BoJ meet
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The Japanese yen has posted slight losses for a second straight day. Currently, USD/JPY is trading at 108.30, up 0.20% on the day.
BoJ pessimistic about inflation target
As expected, the BoJ held the course and did not make any changes to its current policy. In an 8-1 decision, the Board kept its policy rate at -0.10%, with no change to its yield curve control programme. The bank raised the GDP forecast to 4.0%, up slightly from 3.9%. However, the BoJ Core CPI guidance was revised downwards to 0.10%, down from 0.50%.
The BoJ meeting was nondescript, with the bank essentially staying in neutral gear. However, there was a significant admission with regard to the inflation target, which the bank has stubbornly pegged at 2 percent for years.
*Japan Retail Sales -1 5% On Year In February forextv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forextv.com Daily Mail and Mail on Sunday newspapers.
Japan Retail Sales -0.5% On Month, -2.4% On Year In January Japan Retail Sales -0.5% On Month, -2.4% On Year In January
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