BoJ governor Shirakawa reiterated that the bank is ready to act promptly and decisively if concerns about financial market volatility arise. BoJ minutes released today revealed that many members agreed the bank would maintain its stance of responding promptly to changes in the market situation. Also BoJ will adopt the most effective method for money-market operations that conformed to changes in financial markets. Recently, BoJ has also made it clear that it will not tolerate a year-on- year rate of change in the CPI equal to or below zero percent. Yen remains soft against as markets are speculating more quantitative easing measures from BoJ and yen would become the favorite funding currency in 2010 again.
While it will be market holiday in most places tomorrow, some important data will still be featured from Japan, including CPI and employment.
Happy holidays to our readers! We'll be back on Dec 28, Monday.
Economic Indicators Update
GMT Ccy Events Actual Consensus Previous Revised
BoJ Meeting Minutes
Durable Goods Orders Nov
Durables Ex Transportation Nov
Initial Jobless Claims (DEC 19)
Natural Gas Storage