Daily News | Shock in Japan

The Bank of Japan finally held its meeting and the decisions that were made there caused quite a shock in the trading community. Opposite of what was expected, the worth of exchange-traded stocks that the bank will buy every year is going to be set at 6 trillion yen. Many Japanese government bonds are already in the hands of the Bank of Japan, and most analysts agree that the further buying of bonds could cause market instability. A lot of market players are disappointed: many were hoping for more aggressive bank’s action, and lately there were many speculations about the sum of the stimulus. According to the common opinion that can be heard among investors, the Bank of Japan missed the boat once it was decided that it will not reduce its main interest rate, justifying its decision by possibility of “running up against limits of monetary policy”. On the other hand, they doubled the lending program for local companies to $24 billion, meaning that Japanese companies will be provided with more money in order to increase their business activities over the sea We shall now see how markets will interpret today’s shock, and Natixis Japan Securities’ expert Kohei Iwahara thinks that this could mean that “the Bank of Japan is running out of ammunition.” As a result of the shock, the dollar fell to 102.825 yen, and the euro moved to 114.63 yen.

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