The Bank of Japan's Meeting Minutes from the monetary policy review conducted on October 30th was revealed yesterday. The minutes indicated that the BoJ was worried by the rising output gap and the effects it could have on delaying the Central Bank's 2.00% target inflation rate. The rising output gap, according to some members of the BoJ also meant that the Central Bank's quantitative easing was not operating as expected. The BoJ's minutes revealed that the BoJ pushed back the timing of meeting the inflation target by another six months on account of low energy prices, towards the second half of the 2016 fiscal year. Although the BoJ's minutes did not incline strongly to any bias, the Japanese Yen strengthened in early trading yesterday before giving back gains against the US Dollar. USDJPY touched a daily low of 122.254 yesterday but managed to climb back higher to 122.759.
Thin Trading Ahead
Daily Analysis - 26/11/2015