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On Friday, the Governor of Bank of Japan (BoJ) Haruhiko Kuroda stated that at the moment there aren’t any plans to cut interest rates. After the statement, the USD/JPY pair fell to 113.10, due to the change in expectations that the BOJ will take additional easing measures in its next policy meeting in March.
On the other hand, Kuroda stated that the BoJ will ease without any hesitation if it is necessary, using three dimensions of policy choices: quality, quantity and rates. Despite the positive information and the weakness in ... (read more)