- From 45 trillion yen
- Credit-loan program remains at 25 trillion yen
- Increased JGB buys by 5 trillion yen
- Increased Treasury bill buys by 5 trillion
- There is a pause in Japan’s recovery due to overseas slowdown
- Main rate left at 0-0.1%, as expected
USD/JPY as high as 78.96 but offers ahead of 79.00 hold so far. Obviously a dovish move and somewhat unexpected. The July move was a 5 trillion increase, this is double.
Update: there goes 79.00 but 79.05 will need to break to open the way to 79.66.
