Colosseum a.s. (Colosseum a.s.)
Commodities  |  April 04, 2013 11:10:28

Japanese Yen weakened considerably in response to changes in monetary policy



ColosseumSeries statement of Bank of Japan shocked the markets and have significantly weakened the yen. This morning, representatives of the Bank of Japan announced a "qualitative and quantitative" easing of monetary policy in a much greater extent than expected. Japanese Prime Minister Shinzo Abe called for the end of February Haruhiko Kuroda new governor of the Bank of Japan. Kuroda is a known supporter of monetary easing, which it considers to help Japan emerge from the long-term economic stagnation. Weak Japanese currency has support domestic exporters. The change in the central bank's steps was therefore known in advance, but the markets were shocked by the extent release. The aim is to achieve the previously declared two percent inflation in the next two years.The main steps that the central bank announced are: regular monthly purchases of government bonds in the range of 7 trillion yen, buying government bonds with long maturities, targeted increase in the monetary base to 60-70 trillion yen per year. Exchange rate of the Japanese yen against the U.S. dollar fell through the first three hours of trading by 3 percent. Graph 1: Course USDJPY 15M (Source: Colosseum MT5)

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Japonský jen značně oslabil v reakci na změnu monetární politiky

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