The BoJ maintained ultra-low interest rates | 20 Tháng sáu 2022

20 Tháng sáu 2022, USD/JPY

The BoJ maintained ultra-low interest rates

USDJPY trading plan:

The Bank of Japan maintained ultra-low interest rates and vowed to defend its cap on bond yields with unlimited buying, bucking a global wave of monetary tightening in a show of resolve to focus on supporting a tepid economic recovery. "Recent rapid falls in the yen heighten uncertainty on the outlook and make it difficult for companies to set business plans. It's therefore negative for the economy and undesirable," BOJ Governor Haruhiko Kuroda told a news conference. The central bank also stuck to its guidance to keep rates at "present or low" levels, and ramped up a programme to buy an unlimited sum of 10-year government bonds at 0.25%. "Raising interest rates or tightening monetary policy now would add further downward pressure on an economy that is in the midst of recovering from the COVID-19 pandemic's pain," Kuroda said, brushing aside the chance of a near-term rate hike.

Investment idea: buy 134.35 and take profit 134.91.

David Johnson
Analyst of «FreshForex» company
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