In the middle of the week, USDJPY stopped falling; the Yen is consolidating.
On Wednesday afternoon, the Japanese Yen stopped rising against the USD. The current quote for the instrument is 110.19.
This morning, the Bank of Japan published its Monetary Policy Meeting Minutes report. In general, the contents ща the report were as usual: only one of the regulator’s members was in favor of expanding the QE program, the same as before. Others believe that the current monetary policy should remain intact.
The reason why the BoJ shouldn’t increase the program volume is that it makes the national debt increase. The inflation target is still at 2%, but some of the members are quite skeptical about it. They say that the target for the Consumer Price Index is rather far away for actual numbers, which is absolutely true. Earlier, the BoJ specified some particular time for the inflation to reach the target, but right now it seems pretty unachievable.
Probably, the Japanese regulator might change its attitude to the inflation during one of the next meetings. As for its monetary policy, it may remain unchanged for quite a long time. However, for the Yen, it means nothing.