National bank of Japan brought good news to the world banks

It is true, the prices in Starbucks have been raised and people are definitely not happy about that.
Especially to the shares. According to the Aberdeen Asset Management analyst Michael Moen, the new decision of BOJ to let go the monetary policy and focus on the controlling of the yield curve, and buying governmental bonds, is good for other banks as well. Equity market and stocks from world banks will feel the positive impact from this announcement.

He believes that policymakers from BOJ are well aware of the consequences from the policy of negative interest rate. So, to his opinion, they decided to make the negative impact from their decision to leave the interest rate the same, less harmful.

Tuesday moves at the market probably were not the most sustainable. Still, after the early losses, Japanese national currency returned back its position. And it is probably not what BOJ is looking for.

According to the G10FX strategy leader, Adam Cole, when the period after the Fed and BOJ meeting will be finished, and the situation goes back to its norm again, there will be some disappointment. He believes that even though the bank of Japan changed its pace to the following the yield curve, it still prefers to use the same old tools. Minor changes will not save the day.

During today’s trading dollar went up, and reached 102.78 yen. However, in the European sells, it slipped to the previous position and was equal to 101.79 yen. According to the economists’ predictions, Wall Street will be opened with the gain close to the 0.5 percent, as all the main attention will be focused on Fed.

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