Interest rates were left unchanged by most of the central banks last week, but going by the monetary policy statements and comments, the outlook remains bleak and biased to the downside. The Bank of Japan decided to leave interest rates unchanged and instead opted to wait for the lowering of interest rates further into negative territory, a move it made in January, to influence the economy. While committing itself to the 2.0% inflation target rate, the BoJ did however sound cautious in its ability to meet the inflation mandate. Further action from the BoJ is expected in its April meeting.
Fed Returns to Dovish Tones, Dollar Generally Weaker
Weekly Report - 20/03/2016