Nearly half of Japan firms want BOJ to revise negative rate policy

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A Reuters poll shows that nearly half of the Japanese firms say that new leadership at the central bank should revise its negative interest rate policies, while more than a quarter say its price target should be changed.

Meanwhile, Kazuo Ueda is the new head of the Bank of Japan and he will be speaking in parliament on Friday and Monday. Traders will be watchful of what he says with regard to the central bank’s monetary easing.

We also have Japan’s headline Consumer Price Index which is expected to rise to 4.3% for the year in January from 4.0%. These data expectations are of course well above the BoJ’s 2% target.

Meanwhile, USD/JPY is trading lower by some 0.18% and offered ahead of the above events, moving into a build up of lonmgs from the last number of days.

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