Bank of Japan (BOJ) Chief Haruhiko Kuroda reiterated that they “will patiently continue powerful monetary easing” while addressing the post-monetary policy decision press conference.

Additional quotes

Continues to provide easy monetary environment for firms by shifting focus from covid emergency relief to wide-ranging needs.

Must be vigilant to financial, FX market moves and their impact on japan's economy, prices.

Won't hesitate to ease monetary policy further if necessary.

Closely watching financial, FX market moves.

Weak yen impact varies on different sectors.

Market players are paying attention to interest rate differentials.

Yen weakening is one-sided.

Rapid yen moves make it difficult for companies to set business plans, negative for Japan's economy.

There are speculative moves behind weakening yen.

Yen weakness is negative for non-manufacturing companies and mid-, smaller companies.

Boj will closely watch financial market moves, impact on economy, prices, with govt.

Closely coordinating with govt while paying attention to yen weakening's effects on economy and prices.

CPI will undershoot 2% from next fiscal year onwards.

CPI will undershoot 2% from next fiscal year onwards.

Q2 GDP growth is not yet at pre-pandemic levels.

Japan economy still on path towards recovery.

Recent sharp weak yen, existing raw material inflation have pushed up consumer prices.

Higher raw material prices can push down economy by worsening terms of trade.

Appropriate to maintain current powerful monetary easing to support economy.

Won't raise interest rates for time being.

Market reaction

The Japanese yen is finding fresh demand on the BOJ Chief’s comments, as USD/JPY eases off fresh 24-year highs at 145.41 to trade at 145.23, at the time of writing. The pair is still up 0.82% on the day.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD drops below 0.9750 after upbeat US PMI data

EUR/USD drops below 0.9750 after upbeat US PMI data

Following a brief consolidation period, EUR/USD came under bearish pressure and dropped below 0.9750 during the American session on Friday. Better than expected Manufacturing and Services PMI figures from the US provided a boost to the dollar, further weighing on the pair.

EUR/USD News

GBP/USD renews multi-decade below 1.0900

GBP/USD renews multi-decade below 1.0900

After having recovered toward 1.1100 earlier in the day, GBP/USD turned south in the American session and touched its lowest level since 1985 below 1.0900. The PMI data from the US showed that the private sector activity recovered in September, fueling another leg higher in DXY.

GBP/USD News

Gold falls below $1,650, looks to post weekly losses

Gold falls below $1,650, looks to post weekly losses

Pressured by the renewed dollar strength on upbeat US PMI figures, gold lost its recovery momentum and dropped below $1,650. Meanwhile, the 10-year US T-bond yield is up nearly 1%, forcing XAU/USD to stay on the backfoot heading into the weekend.

Gold News

BTC makes a bullish comeback amid regulatory tension, but lacks confirmation

BTC makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin price has produced three consecutive lower lows since September 7, but at the same time, the Relative Strength Indicator (RSI) has shown a positive rise demonstrating a lack of underlying bearish power.

Read more

TSLA suffers as yields continue to dominate

TSLA suffers as yields continue to dominate

Tesla (TSLA) reacted poorly to the latest central bank developments with the stock falling 4% on Thursday. Main indices were not as badly hit with the S&P 500 losing less than 1% and the Nasdaq just over 1%.

Read more

Forex MAJORS

Cryptocurrencies

Signatures