JAPAN: Economics: End to QE. Maintain Zirp. Markets Celebrate

The Nikkei and Dow rallied a bit on the back of announcement by the BOJ that an end to QE is at hand but ZIRP will remain. Most analysts had been making this call since Monday so the gains were not as pronounced.

Gov. Fukui and the BOJ did a good job with the announcement (read on Monetary Policy).

The major takeaways are:

7-1 vote in favor of ending QE.

Inflation Targeting using the CPI of 0% to 2%. (link)

ZIRP Remains in Effect (link)


Keep an eye out for:
Next Monetary Policy Meetings: April 10,11 / April 28 (link)

Whether there is any MOF or Gov't pressure on BOJ to act sooner or other undermining of the BOJ's policy stance.