The Japanese Yen edged lower against the Greenback, following the Bank of Japan’s monetary policy report. The USD/JPY currency pair rose 15 base points or 0.13% to continue consolidation in the narrow range between the 113.05-113.25 marks.
The Bank of Japan announced its decision to maintain the key interest rate unchanged at a negative 0.1% and keep the target for the ten-year government bond yield at 0%. The Bank postponed its monetary policy changes amid signs of improvements in the country’s economy, still anticipating the inflation growth to the elusive 2% target. The following review of the BOJ projections showed that it cut price growth forecasts for 2017, but kept optimistic view for the next years.
