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JPY Daily News
Interest Rate Decisions from Japan and Australia
As expected, both the Bank of Japan (BOJ) and the Royal Bank of Australia (RBA) left interest rates steady at 0.10% and 4.50% respectively.
The BOJ stated the bank is continually monitoring the outlook for economic activity and did not change its economic forecasts. The BOJ also sees a continued moderate economic recovery in the Japanese economy.
The RBA also held its base rate steady while the accompanying rate statement indicated that policy is appropriate for the time being but it did highlight some uncertainty in the market. Also newly elected Prime Minister Julia Gillard successfully formed a minority government.
Continued European banking worries touched off a bout of safe haven buying. The yen was one of the benefactors in yesterday's trading. The USD/JPY dropped to a 15-year low at 83.50 before finally closing at 83.79. Should safe haven buying continue, the USD/JPY could push its all-time low at 79.70.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 09/08 | ||||||||
| 06:00 | JPY |  BoJ Monthly Report | * | * | * |  | ||
| 06:00 | JPY | Economy Watchers Sentiment | 49.8 | 50.3 | 45.1 |  | ||
| 00:50 | JPY | BSI Manufacturing Index | 10.0 | 6.3 | 13.3 | | ||
