Peter Pan(demonium) Erupts As BoJ “Disappoints”, Signals Early End Of NIRP

Jon Alternative Media, Blogosphere, Economy

USDJPY was in full chaos mode ahead of tonight’s BOJ statement. With only 5 of 40 economists expecting further actions by Kuroda (and close Abe advisor Hamada suggesting “I think the BOJ wouldn’t take further action right now… probably it will be a wise decision,” The BoJ decide to stay put – holding rates flat at -10bps, holding QQE buying flat, and maintaining its ETF buying program at expected levels. The biggest surprise though was a language change suggesting the end of NIRP. After ‘mixed’ results following its NIRP bomb in January, perhaps it is wise to give the ‘economy’ time to absorb the craziness as Japan’s Peter-Pan-ic continues. The initial reaction was weaker Nikkei and stronger JPY.

This post was published at Zero Hedge on 03/14/2016.