BOJ announcement: EASES FURTHER – Expands monetary base target via ForexLive - iShares MSCI Japan Index Fund (ARCA:EWJ), Invesco CurrencyShares Japanese Yen Trust (ARCA:FXY)

The BOJ have completed their meeting and are on the wires now.

Eases further

Expands base money target to 80 trln yen
Increases JGB buying by 30 trln yen per year
To triple pace of annual buying of ETF, JREITS
To make ETFs that track JPX Nikkei index 400 eligible for its buying
To extend duration of JGBs it holds to about 7-10 years
Decision on expanding base money target, extending duration of jgbs holdings made by 5-4 vote
To maintain balance of its CP, corporate bond holdings
Board members Morimoto, Ishida, Sato, Kiuchi voted against expanding base money target
Board members Morimoto, Ishida, Sato, Kiuchi voted against extending duration of JGB holdings
Pursuing QQE in an open-ended manner, releases estimates for its asset purchases for next year
There were risks shift of deflation mindset may be delayed due partly to downward pressure on prices from oil price declines

Big news out of the BOJ. – This is an unexpected move, not expected by most of the market (nearly all)

Nikkei rockets higher

USD/YEN up toward 110

Bank of Japan (BOJ) Governor Kuroda is due to give his post-meeting press conference later, scheduled at 0630GMT