BoJ Interest meeting: Starts April 27 at 9am, expect to conclude it by around noon

Ross J Burland FXStreet

Following the March meeting where the BOJ replaced a scheduled rate review on March 18-19 with an emergency policy meeting on March 16, the Bank of Japan will start and finish its interest meeting in the same day this time around.

After creating a new loan programme to ease corporate funding strains and easing policy by ramping up risky asset-buying, the next meeting will be taking place as scheduled on April 27 at 9am, but expect to conclude it by around noon rather than spread over two-days.

Sources have told Reuters that at the meeting, the BOJ is expected to take further steps to ease funding strains for companies hit by the pandemic by boosting purchases of corporate bonds and commercial paper (CP) and other measures.

COVID-19 spreading in Japan

Meanwhile, Japan, alarmed by rising contagion of the virus and related deaths leading to the spectre of the collapse of the medical system, is rushing to expand testing after weeks of limited its testing for the coronavirus.

This follows a decision to expand testing to the entire nation when Prime Minister Shinzo Abe expanded a state of emergency to the entire country, warning of the growing burden on health facilities.

Tokyo now has a record 201 additional cases reported by its governor on Friday, for a total of 2,796. Japan's total infections stand at more than 9,800, with 207 deaths, according to a tally by public broadcaster NHK.

USD/JPY: Mildly bid but holds below 108.00 amid broad-based dollar gains

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Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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