The Bank of Japan is determined to keep stimulating the national economy until the rate of inflation reaches the target level (1%).
The BOJ Governor asked the Japanese government to take certain steps in order to eliminate deflation. The Bank of Japan is determined to take active steps, including financial support for commercial banks in order to stimulate lending.
Despite the statements, experts feel skeptical about the efficiency of such measures, underlining their populist nature.
At the same time, the opposition calls for more active monetary steps. They offer to set the inflation target level at 2%
Forex.
According to , the Japanese Yen keeps weakening against the US Dollar. The experts report that USDJPY is forming a big-scale upswing represented by wave А/В of level Weekly.
A further rally (above 82.82)will probably encounter resistance around 83.34, 83.71. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 81.71 (as shown below).
