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The Bank of Japan’s Minutes for the Oct meeting minutes stated that most members said the central bank’s range of steps to ease corporate funding strains exerting intended effects. 

One member said BoJ’s programmes are designed in a way to respond flexible to various changes to economic environment.

One member said must avoid premature withdrawal of steps to deal with pandemic pain.

Members agreed BoJ shouldn’t hesitate to ease further if needed with eye on pandemic’s impact on economy.

USD/JPY grinds back above 103.50 amid perky US dollar conditions

Description of BoJ minutes

The Bank of Japan publishes a study of economic movements in Japan after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and indicate a sign of new fiscal policy.

Any changes in this report tend to affect the JPY volatility. Generally speaking, if the BoJ minutes show a hawkish outlook, that is seen as positive (or bullish) for the JPY, while a dovish outlook is seen as negative (or bearish).