Following the highly anticipated monetary policy review meeting in September, members of the Board of Directors of the Bank of Japan (BoJ) decided not to modify the current configuration of its monetary policy, maintaining the rates and the yield target of the Government bond Japanese (JGB) 10 years at -10 basis points and 0.00%, respectively.
Summary of the statement
The BoJ maintains the range around the 10-year JGB yield target at 0.5%.
The BJ makes the decision on yield curve control (YCC) unanimously.
The BoJ does not modify its future guidance.
The BoJ maintains the range around its 10-year JGB yield target at 0.5%.
The BoJ maintains its 10-year JGB purchase offer at 1.0% daily through fixed rate market operations.
The Japanese economy recovers moderately.
The Japanese economy is likely to continue its moderate recovery.
Inflation expectations are once again showing signs of acceleration.
We must be attentive to the movements of the financial and currency markets and their impact on economic activity and prices in Japan.
USD/JPY reaction
The USD/JPY recovery gained strength following the BoJ’s monetary policy announcement. The pair is currently trading at 148.06, up 0.34% on the day, having jumped to 148.18 in a knee-jerk reaction to the Bank of Japan’s decision.
USD/JPY 15-minute chart
Current rate of the Japanese Yen
Below is the percentage change of the Japanese Yen (JPY) against the main currencies today.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.13% | 0.13% | -0.07% | -0.13% | 0.28% | 0.03% | -0.03% | |
| EUR | -0.11% | 0.00% | -0.20% | -0.25% | 0.16% | -0.07% | -0.13% | |
| GBP | -0.12% | 0.00% | -0.19% | -0.26% | 0.16% | -0.08% | -0.11% | |
| CAD | 0.07% | 0.18% | 0.19% | -0.04% | 0.34% | 0.11% | 0.05% | |
| AUD | 0.14% | 0.27% | 0.27% | 0.08% | 0.43% | 0.18% | 0.13% | |
| JPY | -0.28% | -0.17% | -0.17% | -0.36% | -0.43% | -0.25% | -0.29% | |
| NZD | -0.04% | 0.08% | 0.08% | -0.11% | -0.18% | 0.24% | -0.04% | |
| CHF | 0.01% | 0.14% | 0.15% | -0.05% | -0.12% | 0.30% | 0.05% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
