The EUR/JPY cross attracts some buyers to around 163.00 during the early European session on Monday.
EUR/JPY gains momentum to near 163.00 in Monday’s early Asian session, up 33% on the day. The lack of clear guidance on the next BoJ rate hike timingweighs on the JPY. ECB’s Cipollone said the central bank should cut rates further to support recovery. The Japanese Yen weakens against the Euro amid the uncertainty over the Bank of Japan's rate-hike plans. The European Central Bank Vice President Luis de Guindosand Phillip Lane are scheduled to speak on Monday.
Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. What has been the Bank of Japan’s policy? The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment.
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