Published: 2024-06-14T04:59:24.000Z
USD/JPY flows: BoJ Surprise Again
FX Analyst
1
BoJ keep rates on hold and did not cut bond purchase this month
Forward guidance suggest BoJ will decide bond purchase cut in July
The BoJ once again surprise market participants with no change to bond purchase program nor rates. They did guide that the planning for bond purchase cut will be decided in July. It came as a surprise to market as Ueda hinted such, so as multiple 'source" news report, not to mention wage and inflation both picked up to above 2%. The uncertainty in economic outlook and price setting behavior seems to be the key reason led BoJ to this decision.
USD/JPY is trading 0.61% higher at 157.94.