Created
: 2025.03.25
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
BoJ Minutes: Most members agree the likelihood of hitting 2% target had been rising
World FX news
All categories
- All categories
Breaking news
BoJ Minutes: Most members agree the likelihood of hitting 2% target had been rising
New
2025.03.25 09:08
2025.03.25 09:08
2025.03.25 09:08
The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Tuesday, per the BoJ Minutes of the January meeting.
Key quotes
Most Board of Japan members expressed the recognition that the likelihood of realizing the outlook had been rising.
Some members recognized real interest rates were expected to stay significantly negative even after the rate hike.
Risk price expectations may surpass 2%.
Most members expressed the recognition that the likelihood of realizing the outlook had been rising.
One member expressed the view that, if underlying inflation increased, the BOJ would need to raise the policy interest rate accordingly in a gradual manner.
One member continued that it would be necessary for the BoJ to adjust the degree of monetary accommodation from the viewpoint of avoiding the yen's depreciation and the overheating of financial activities.
One member said it would be desirable for BoJ to bear in mind that the policy interest rate should be at around 1% in the second half of fiscal 2025.
Market reaction to the BoJ Minutes
At the time of writing, USD/JPY was up 0.02% on the day at 150.74.
Bank of Japan FAQs
The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%.
The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank's policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance.
The Bank's massive stimulus caused the Yen to depreciate against its main currency peers. This process exacerbated in 2022 and 2023 due to an increasing policy divergence between the Bank of Japan and other main central banks, which opted to increase interest rates sharply to fight decades-high levels of inflation. The BoJ's policy led to a widening differential with other currencies, dragging down the value of the Yen. This trend partly reversed in 2024, when the BoJ decided to abandon its ultra-loose policy stance.
A weaker Yen and the spike in global energy prices led to an increase in Japanese inflation, which exceeded the BoJ's 2% target. The prospect of rising salaries in the country - a key element fuelling inflation - also contributed to the move.
Last updated
: 2025.03.25
Related articles
USD/CAD Price Forecast: Extends winning streak amid caution ahead of Liberation Day
38 minutes agoAUD: RBA hold amid tariff noise - ING
39 minutes agoUSD: Waiting to be lifted by tariffs - ING
44 minutes agoGold hits fresh all-time high ahead of Trump's reciprocal tariff deadline
59 minutes agoUSD/JPY: A pullback is taking shape - Societe Generale
2025.03.31 18:59Pound Sterling consolidates against US Dollar as Trump's reciprocal tariffs take centre stage
2025.03.31 18:49
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at support@myforex.com.
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Oil prices are under pressure - ING
Oil prices opened lower this morning with ICE Brent extending its declines from last week, hovering around $73.5/bbl.
New
2025.03.31 19:25USD/CAD Price Forecast: Extends winning streak amid caution ahead of Liberation Day
The USD/CAD pair extends its winning streak for the third day on Monday.
New
2025.03.31 19:20AUD: RBA hold amid tariff noise - ING
The Reserve Bank of Australia announces rates at 0430 BST tomorrow and we expect a hold, in line with consensus and market pricing (less than 10% implied probability of a cut).
New
2025.03.31 19:19Copper continues its retreat- ING
Copper continues retreating from a nine-month high amid broader risk-off sentiment, ING's commodity analysts Warren Patterson and Ewa Manthey note.
New
2025.03.31 19:16USD: Waiting to be lifted by tariffs - ING
The US is due to announce a new historic round of tariffs on trading partners on Wednesday, which President Trump has now famously dubbed 'liberation day', ING's FX analysts Francesco Pesole notes.
New
2025.03.31 19:14Gold hits fresh all-time high ahead of Trump's reciprocal tariff deadline
Gold price (XAU/USD) shots higher at the start of the trading week and hovers around $3,120 at the time of writing on Monday.
New
2025.03.31 19:00USD/JPY: A pullback is taking shape - Societe Generale
USD/JPY rebound petered out near the confluence of the 50-DMA and the 200-DMA at 151.30/151.60, Societe Generale's FX analysts report.
New
2025.03.31 18:59Gold rises above $3,100 - ING
Gold rose above $3,100/oz for the first time to hit a fresh record high at the start of a new week, ahead of President Donald Trump's tariff announcement, beating its previous record high hit just last Friday, ING's commodity analysts Warren Patterson and Ewa Manthey note.
New
2025.03.31 18:54Pound Sterling consolidates against US Dollar as Trump's reciprocal tariffs take centre stage
The Pound Sterling (GBP) flattens against the US Dollar (USD) around 1.2940 in Monday's European session.
New
2025.03.31 18:49EUR: A bit expensive into tariff event - ING
EUR/USD at 1.084 days before the US is expected to announce harsh tariffs on the EU is a testament to the FX market's hyper forward-looking tendency, ING's FX analysts Francesco Pesole notes.
New
2025.03.31 18:37Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
