zerohedge.com / by Tyler Durden / 04/05/2016 07:59 -0400
With the USDJPY crashing to a fresh 17 month low, sending the Nikkei down 2.3% and taking out levels during which we have seen direct BOJ intervention in both February and March, many were wondering how a panicking Japan would try to push its currency lower. The answer was revealed moments ago, with the following Reuters headlines:
- BOJ LIKELY TO DEBATE POSSIBILITY OF EASING MONETARY POLICY AT APRIL 27-28 RATE REVIEW – SOURCES
- IF BOJ WERE TO ACT, MORE LIKELY TO INCREASE ASSET BUYING THAN FURTHER CUT INTEREST RATES – SOURCES
- WILL BE CLOSE CALL AT BOJ APRIL MEETING ON WHETHER TO EASE OR NOT – SOURCES
More from Reuters:
Bank of Japan policymakers will likely debate the possibility of easing monetary policy further at a rate review this month, as a raft of gloomy data threatens their scenario that a moderate economic recovery will accelerate inflation towards a 2 percent target, sources familiar with their thinking said.
If the central bank were to act, it would more likely increase asset purchases than cut interest rates, the sources said, as financial institutions are still scrambling to adjust to a negative rate policy deployed in January.
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Thanks to BrotherJohnF