BoJ holds policy despite weakening expectations
Yen climbs as policy board keeps interest rates and asset purchases at existing levels
The yen climbed more than 3% against the US dollar as the Bank of Japan (BoJ) kept its policy broadly unchanged today (April 28) – dashing market expectations of further easing.
Policy board members nonetheless cut their forecasts for both growth and inflation in fiscal 2016. The median expectation is that annual consumer price index (CPI) inflation, less fresh food, will climb to 0.5%, compared with an earlier figure of 0.8%.
This would still represent a notable increase. Just hours before the
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