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12 Mar 2013
Forex Flash: BoJ minutes shows gradual bias towards JGB purchases - OCBC Bank
Emmanuel Ng of OCBC Bank notes that BoJ minutes this morning showed that some members are holding a slight bias towards purchasing longer term JGBs as a form of additional monetary easing.
Elsewhere, he notes that elsewhere, Deputy BOJ governor nominee Iwata kept up with the dovish rhetoric by stating that monetary policy is central to the new administration’s policies and called for bold monetary easing to achieve the 2% inflation target – echoing comments from the BOJ’s Ishida from Monday. In the interim, he is expecting the USD/JPY to attempt to push the envelope towards the upside with 95.00 perceived as a key psychological support.
Elsewhere, he notes that elsewhere, Deputy BOJ governor nominee Iwata kept up with the dovish rhetoric by stating that monetary policy is central to the new administration’s policies and called for bold monetary easing to achieve the 2% inflation target – echoing comments from the BOJ’s Ishida from Monday. In the interim, he is expecting the USD/JPY to attempt to push the envelope towards the upside with 95.00 perceived as a key psychological support.