Despite growing concerns about the continued weakening of the yen and its negative economic impact, the Bank of Japan left its monetary policy unchanged on Friday, maintaining its dovish stance for the time being.
While the BOJ was widely expected to keep short-term interest rates at zero percent to 0.1%, investors and market observers were watching to see whether the bank would issue more aggressive signals to curb the Japanese currency’s weakness against the U.S. dollar.
Still, the central bank’s statement after its two-day policy meeting failed to send a clear signal, sending the currency past the ¥156 level – a new 34-year low.
