BoJ makes no change to its major policy planks, no change to forward guidance

<p>Bank of Japan September 2023 Statement</p><p>more to come</p><p>
BOJ maintains negative interest rate policy, applies -0.1% rate to
financial institutions' accounts at central bank</p>
<ul><li>Maintains 10-year
JGB yield target around 0%</li><li>Maintains band
around its 10-year JGB yield target at up and down 0.5% each</li><li>Maintains offer to
buy 10-year JGB at 1.0% daily through fixed-rate market operations</li></ul>

<ul><li>
Maintains band around its 10-year JGB yield target at up and down
0.5% each</li><li>Maintains offer to
buy 10-year JGBs at 1.0% daily through fixed-rate market operations</li></ul>

<ul><li>
Makes no change to forward guidance</li><li>Japan's economy
recovering moderately</li><li>Japan's economy
likely to continue moderate recovery</li><li>Inflation
expectations showing renewed signs of accelerating</li><li>Must watch financial
and forex market moves and impact on Japan's economic activity,
prices</li></ul><p>—-</p><p>USD/JPY has jumped on the news:</p><figure data-media-><img src="https://images.forexlive.com/images/usdyen%20boj%20September%202023%20statement_id_9fe573be-bcff-4921-8fe4-d194ebcf292a_size900.jpg" alt="usdyen boj September 2023 statement" width="1067" height="742" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/usdyen%20boj%20September%202023%20statement_id_9fe573be-bcff-4921-8fe4-d194ebcf292a_size900.jpg" /></figure>

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This article was written by Eamonn Sheridan at www.forexlive.com.