Reuters headline on a remark from Japanese Prime Minister Kishida:
- Acknowledges BOJ'S December policy decision was an operational tweak to enhance, sustain monetary easing effects smoothly
Huh. Given the way inflation is rising in Japan many in the markets saw it as a tiny first step towards the Bank of Japan dially back its ultra loose policy.
If you did miss the December Bank of Japan tweak, it sent shock waves through global markets:
- ForexLive Asia-Pacific FX news wrap: BOJ pivot sends the yen rocketing higher across board
- ForexLive European FX news wrap: Yen flying high after BOJ policy tweak
- Forexlive Americas FX news wrap: Yen hits new highs as the BOJ fallout continues
The decision was such a shock that representatives from the government requested, and were granted, a 30 minute adjournment: