Despite growing concerns over the continued weakening of the yen and its negative economic impact, the Bank of Japan on Friday left its monetary policy unchanged, maintaining its dovish stance for the time being.
While the BOJ was widely expected to keep the short-term interest rate target at zero percent to 0.1%, investors and market observers were watching for whether it would send more hawkish signals to curb the weakness in the Japanese currency against the U.S. dollar.
Yet the statement issued by the central bank after its two-day policy meeting gave no clear signal, pushing the currency past the ¥156 level — a fresh 34-year low.