The yen continues to depreciate against the dollar on the decision of the Bank of Japan

The yen continues to depreciate against the dollar on the decision of the Bank of Japan


The Bank of Japan at the end of another meeting for the first time decided to introduce negative interest rates on deposits of financial institutions by the Central Bank at minus 0.1 percent. The news came as a surprise to the markets.

MOSCOW, 1 Feb. The yen on Monday continued to decline to the dollar, according to AFP. Investors win Friday’s decision by the Bank of Japan to introduce a negative Deposit rate of financial institutions in the Central Bank.

As at 12.22 GMT the dollar against the yen was 121,19 yen per dollar against the yen 121,13 previous close. The dollar index (the dollar against a basket of currencies of six major U.S. trading partners) fell by 0.19% to 99,46 item. The Euro-dollar exchange rate has grown up to 1,0858 1,0833 dollar with the dollar at the previous closing.

The Bank of Japan at the end of another meeting for the first time decided to introduce negative interest rates on deposits of financial institutions by the Central Bank at minus 0.1 percent. Earlier it was 0.1%. The news came as a surprise to the markets. The Bank of Japan said that he is ready to continue to cut rates if necessary.

“Until recently the Governor of the Bank of Japan denied the possibility of reducing interest rates on current Deposit accounts. Perhaps the Central Bank decided to surprise the market after expectations of rate cuts everywhere decreased,” — results Reuters opinion of the chief economist for Japan at Goldman Sachs, Naohiko Baba (Naohiko Baba).

A certain influence on the Euro on Monday has a new portion of statistics on the Eurozone. In particular, the index of business activity in the regional industry (PMI) in January, on the final assessment, fell to 52.3 points from 53.2 points in December. Data fully coincided with analysts ‘ forecasts and preliminary assessment.