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Why BoJ did not change interest rates - MUFG opinion

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The BoJ does not seem to plan to adapt as well as the ECB plans to the macroeconomic situation.

Minori Uchida, head of global research at MUFG, commented on the earlier decision of the Central Bank of Japan to keep interest rates at -0.10%. In his view, it was precisely the limited rise in the yen that led to interest rates being maintained. Despite expectations of the Fed to cut interest rates.

The BoJ are more likely to refrain from changing their monetary policy because, in their estimation, this change will have rather a short-term and limited effect. Waiting in this case will also allow them to organize a stronger program to stimulate the economy.

Uchida also believes that at this stage 180.50 remains key support for USD / JPY, with the price remaining above this level after the BoJ and FOMC conference tomorrow.


 Trader Martin Nikolov

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