USD/JPY crawls back after BOJ rate decision – downgrades growth forecast

The USD/JPY pair rose by 0.15% as traders reacted to the Bank of Japan (BOJ) interest rate decision. It is trading at 104.46, which is slightly above yesterday’s low of 104.10. Bank of Japan interest rate decision The Bank of Japan has been one of the most active central banks in the market this year. Although it has not cut rates as its counterparts, it has used other tools to support the world’s third-biggest economy. These measures, together with those implemented by the Japanese government, have helped Japan navigate its worst recession in decades. The economy contracted by 7.9% in