BoJ: No change in policy - TDS

Sandeep Kanihama FXStreet Contributor

TD Securities analysts point out that as widely expected and in line with their view there was no change to BoJ policy, in a 7-2 vote.

Key Quotes

“They left the 10y yield target at about 0%, maintained policy balance rate at -0.1%, asset purchases were unchanged and likewise there was no change in forward guidance. However, the statement sounded cautious, highlighting “significant” downside overseas economic risks including developments in China, noting the need to pay close attention to the impact on sentiment.”

“We don’t see a hurry for the BoJ to shift policy despite the Fed’s dovish although Kuroda recently highlighted several options for action. There may be a slight disappointment that BoJ did not alter its forward guidance.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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