Flash: More support from BoJ - TDS

FXStreet (Guatemala) - Analysts at TD Securities noted that the BoJ policy meeting ended with policy makers sticking with the current asset purchase plan whilst doubling the scale of a low-interest loan programme to banks to total JPY 7 tn.

Key Quotes:

“The decision came after yesterday’s disappointing GDP data (0.3% q/q versus 0.7% expected)”.

“The dovish move underscores the potential for even more stimulus measures later this year if the economy stumbles after the implementation of the sales tax increase in April”.

“We look for USD/JPY gains to extend near-term if today’s push through 102.30/35 can be sustained”.