BOJ monetary policy announcement after the October 30 meeting

On hold again

  • To increase monetary base at annual pace of 80 trln yen
  • 8-1 vote ... Kiuchi the dissenter, as usual
  • To purchase JGBs) so that their amount outstanding will increase at an annual pace of about 80 trillion yen
  • Average remaining maturity of the Bank's JGB purchases will be about 7-10 years
  • BOJ will purchase exchange-traded funds (ETFs) and Japan real estate investment trusts (J-REITs) so that their amounts outstanding will increase at annual paces of about 3 trillion yen and about 90 billion yen respectively
  • CP and corporate bonds, the Bank will maintain their amounts outstanding at about 2.2 trillion yen and about 3.2 trillion yen respectively

Announcement made at 12.22pm Tokyo time (0322GMT) ... which for a one-day meeting implies discussions were not overly drawn out ... not a lot of debate of more easing.

Full text here: Statement on Monetary Policy

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Yen (USD/JPY down) strengthens after the announcement

USD/JPY dipped down toward 120.30

Bouncy, now back around 120.65 (as I update)

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Still to come from the BOJ today ... their Semi Annual Outlook Report, due at 0600GMT

And ... Governor Kuroda's press conference at 0630GMT