Bank of Japan Holds Target Interest Rate Steady
April 27, 2007 at 12:10 am · Category: Foreign Exchange, Japan
At 2:07pm in Japan, 10:07pm out here in California, the Bank of Japan (BOJ) held its interest rate target steady at .5%. This is good news for stocks as it doesn’t put any pressure on the carry trade. The yen had been rallying a touch into the meeting, getting down to about 119.35, but it bounced after the announcement back up to around 119.65 in the immediate aftermath and seems to have closed in Japan around 119.55.
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