The yen rate decreases after the meeting of the Central Bank of Japan
On Wednesday, October 31, experts fix a moderate depreciation of the yen against the US dollar. The reason for this was the decision of the Bank of Japan regarding the future monetary policy pursued in the country.
Currently, the results of the October meeting of the Japanese regulator became known. The country’s central bank intends to keep the interest rate at a negative level of -0.1%. Experts point out that this decision was expected. Some analysts at Bank of Singapore believed that the Japanese regulator would leave the same soft monetary policy.
According to forecasts of Bank of Japan experts, in the current fiscal year, the economy of the Land of the Rising Sun will grow by 1.4%. Experts do not exclude fluctuations in this range from 1.3% to 1.5%. In relation to the fiscal year 2019, analysts expect an economic growth of 0.8-0.9%. In the current fiscal year, the inflation rate in Japan will be in the range of 0.9-1%, and in the next financial year, it will accelerate to 1.8-2%.
The rate of the American currency in relation to the Japanese by 05:58 London time increased to 113.22 yen for 1 US dollar, the rate of the European currency in relation to the American decreased to $ 1.1341 for 1 euro. The dollar index, the rate of the American currency to the basket of currencies of six countries, key US trading partners, rose by 0.04%, to 97.05 points.