The Bank of Japan meeting was shortened from two day to only one, and even further to only 3 hours.
More accurately, around 3 hours as there have been no firm finishing time announced. Its expected to finish and the Statement released at noon Tokyo time (0300GMT) ro very soon after.
What is excepted? These moves are high on the list:
- BOJ's negative 0.1% rate policy likely to be kept unchnaged
- BOJ could scrap its annual ceiling of ¥80 trillion of JGBs purchases (this is less important than it seems as the BOJ has kept JGBs 10yr around the 0% target without buying close to the targeted amount, this has gone on for a number of years.
- raise the limit on corporate asset purchases, more than doubling this to around 9 tln yen
- to do similar on commercial paper, to a similar around 9 tln yen
- may bring in a new lending program for business inp[acted by the virus outbreak
All of this 'should' contribute to a weaker yen.
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