The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
BOJ to support the JPY?
What will happen?
BOJ shares its interest rate and monetary policy on March 19.
Bank of Japan is likely to keep the rate steady at -0.1%. Last time, the Bank revised the earlier projections of the yearly GDP growth rate (fiscal year April 2021 – April 2022) of 3.6% to a higher mark of 3.9% reflecting effective government measures against the virus fallout. In 2020, the Bank increased its quantitative easing through wider asset-buying and other measures adding that it would be standing by to further assist the economy if needed.
How to trade the BOJ rate?
With the Bank of Japan, you would be looking at the status and dynamics of quantitative easing – particularly, if there is any prospect of increasing or decreasing any of its major elements.
- If BOJ speaks of more quantitative easing, the JPY may lose value;
- Otherwise, the JPY main gain.
Instruments to trade: USD/JPY, EUR/JPY, NZD/JPY, CHF/JPY
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In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!