Bank of Japan leaves negative rates and YCC 1% ceiling rate unchanged ...Middle East

Bank of Japan announces their main policy planks remain in place untouched, as expected.USD/JPY has jumped sharply higher.Maintains short-term interest rate target at -0.1%Maintains 10-year JGB yield target around 0%, with 1% upper reference rate kept unchangedYCC decision unanimousBOJ makes no change to forward guidanceMore Economy has recovered moderatelyPrivate consumption continues to rise moderatelyY/y rate of rise in CPI slower than a while ago mainly due to effects of pushing down energy pricesBut CPI has been around 3% recently due to pass-through of cost increases to consumer pricesInflation expectations have risen moderatelyEconomy likely to continue recovering moderately for time

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