The Bank of Japan's decision to loosen monetary policy further at an emergency meeting today simply brought forward the move that was widely expected to take place early next month. The economic impact will be negligible and any impact on the yen will be diluted by the lack of a stated intention to weaken the currency or step up quantitative easing. The announcement of a policy change when the world's largest centre for FX trading (London) is on holiday also reinforces the impression that this move was designed more to appease a domestic audience.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services