Yen Weakens as Bank of Japan Revises Economic Forecast Down

The Japanese yen slipped today after the Bank of Japan concluded its policy meeting. While the central bank did not change its monetary policy, it revised economic projections for this year negatively.
The BoJ announced that it is keeping interest rates near zero and the size of asset purchases at about ¥80 billion, making no surprises to market participants. Yet the central bank revised its forecast for economic growth and inflation in 2015 lower compared to the estimates made in April. At the same time, the prediction for growth in 2016 improved.
USD/JPY advanced from 123.38 to 123.54 and EUR/JPY ticked up from 135.81 to 136.19 as of 10:26 GMT today.

If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

ninety four − = eighty eight