Japanese Overnight Call Rate

Written March 16, 2010 at 11:58 PM EST by  

The BOJ, as expected, kept the overnight call rate at 0.10%; the result of a unanimous decision by the BOJ. In addition, the BOJ released the following statements:

  • BOJ maintains itsĀ economic assessment.
  • It will maintain very easy monetary conditions.
  • It is important to pull Japan out of deflation.
  • The fall of annual core consumer prices are narrowing.
  • Policy board decision on expanding fixed rate funding operation was by a vote of 5-2; members Noda, and Suda voted against expanding the fixed rate funding operation.
  • Japan’s economy is picking up but domestic demand lacks momentum.

Following the release of these announcements, the JPY gained nearly 40 pips against the USD, EUR, and GBP.

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