Sources: BOJ sees no backlash in markets if rate cut becomes necessary – Bloomberg

Dhwani Mehta FXStreet

Bloomberg quotes people familiar with the matter, as citing that the Bank of Japan (BOJ) official believe that if they choose to lower interest rates further into the negative territory in the coming months, it wouldn’t backfire as markets have priced-in such a possibility.

The officials added that the BOJ is also increasingly confident that commercial banks are strong enough to cope with a lower negative rate and don't see the pain becoming overly disruptive to Japan's overall financial system, per sources.

USD/JPY remains unperturbed by the above reports, consolidating below the seven-week tops of 108.36, as pre-Fed cautious mood continues to cap the upside.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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