BoJ announcement buoys markets

Overnight markets in Asia have been rallying off the back of the most recent Bank of Japan meeting where the central bank decided to keep interest rates on hold at -0.1% but stated that this would be lowered if needs be. The country’s quantitative easing package has remained on track at 80Tn Yen with no immediate increase. The Yen weakened by 0.9% overnight with the Nikki 225 rallying 1.9% over the same period. Markets have seen the news largely as a positive sign of health for the Japanese economy with futures markets indicating that