BOSSA.CZ (BOSSA.CZ)
Markets  |  December 20, 2012 09:50:13

Tackling deflation in Japan continues


iPoint.cz Bank of Japan (BoJ) today launched the third night in monetary stimulus over the past four months. This is a prelude to a more aggressive steps that await us in the next year. It is thus a response from the bank to the newly elected Prime Minister Shinzo Abe, who wants to work hard to fight deflation.
Negotiations BoJ has indicated that there is an increase inflation target at the next meeting in January. Shinzo Abe, who on Sunday achieved a landslide victory with his party LDP, does not hide the fact that he is going very strongly interfere in the decisions of national banks and set her goal for 2 percent inflation rate.
Today stimulus that consisted of an increase in asset purchases and loan program by 10 trillion yen, the market could not move as expected.
BoJ for the fifth time this year increased the volume of asset purchase and is thus the highest activity of the Bank for the past 10 years.
Japanese analysts criticize the BoJ that Abe was not even appointed and monetary policy is no longer subordinate to him.
BoJ currently target to 1 percent inflation in the long term, the bank wanted to achieve inflation levels between 0-2 percent.
Currency pair USD / JPY at night stepped down from their highs and is currently trading near the Fibonacci levels of 23.6. At 4 hours chart shows hidden bullish divergence, we could take as a signal for when buying a bull candle at significant levels somehow. The situation in this pair will become very interesting to chart the political battle will take place between Japan and the rest of the world.
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