Immediately after the Bank of Japan decided to maintain its current monetary policy, dollar-yen fell as low as ¥157.12. As it subsequently continued to hold above approximately ¥157.35, market participants increasingly said they wanted to assess the Bank of Japan governor's press conference.
After the Bank of Japan announced that it would maintain its current monetary policy, dollar-yen showed choppy trading and briefly fell as low as ¥157.12. Market reactions were divided over the Bank of Japan's future policy operations and interest-rate trends.
The Outlook Report said that the underlying rate of consumer price inflation was broadly consistent with the 2% price stability target, and the inflation forecast for 2027 was raised, possibly heightening concern over a rate hike in December. However, many market participants said they wanted to assess Governor Ueda Kazuo's (植田 和男) press conference, and price movements remained subdued at that point.