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Analysts at Scotiabank explained that the BoJ left policy settings unchanged at today’s meeting, as expected.  

Key Quotes:

“Policy makers are expected to maintain accommodative settings for some time to come, with inflation still lagging well below the BoJ target.”

“We think the JPY is liable to under -perform other G-10 currencies in the medium to longer run as policy settings will remain relatively loose while other central banks edge towards a moderately tighter stance.”