USD/JPY: Policy Board Pushes BOJ for More Easing; Yen Rises

More expansionary wording of the bank’s price outlook released at its Oct. 30 meeting was voted by two new members of the Bank of Japan’s nine-member Policy Board. Takehiro Sato and Takahide Kiuchi sated that the BOJ must carry on with aggressive easing until a 1 percent inflation goal has been steadily maintained. The two members will push on easing measures until 1 percent inflation is in sight, which is deemed to bring the valuation of the Yen to stable levels. In effect, the Japanese economy is expected to strengthen as corporate efforts are prevented to come close to the limit.

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