Bank of Japan Meeting Notes - No Policy Changes Shock the Market

Toronto, Canada, April 29, 2016 (Newswire.com) - RNK Global

Bank of Japan Meeting Notes – No Policy Changes Shock the Market

The move is seen as rather indicative of the fact that the BOJ is not sure on the direction to take. The lack of further stimulus left the markets confused as to the strategy their finance ministers are going to tread and this was reflected in the trading late in the afternoon in Tokyo.

Daniel Leavy, PR Manager

The Bank of Japan ended a 2-day session yesterday and surprised investors by making no policy changes.

The move is seen as rather indicative of the fact that the BOJ is not sure on the direction to take. The lack of further stimulus left the markets confused as to the strategy their finance ministers are going to tread and this was reflected in the trading late in the afternoon in Tokyo.

The Nikkei lost over 3.5% in the same week that saw its main index see significant losses due to its exposure to automotive manufacturers and the Mitsubishi scandal. The auto maker admitted that it had not been following government guidelines for emissions testing for over 20yrs. This saw the company lose over $20bn off its value and fears that other companies in the sector are next in line for investigation.

Main Asian Markets Close 28th April:

Nikkei 225 – 16,666.05 (-624.44) -3.61%

Hang Seng – 21,388.03 (-26.43) +0.12%

SSE Comp – 2,945.59 (-8.08) -0.27%

ASX 200 – 5,289.40 (+38.50) +0.73%

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Source: RNK Global