Asian session review: the yen rose after the Bank of Japan meeting, the US dollar traded steadily

During today's Asian trading, the US dollar was almost unchanged against the major currencies, while the yen rose in price.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, fell by 0.04% compared to the previous day.

The Bank of Japan maintained ultra-soft monetary policy parameters, as most experts predicted, following the meeting that ended on Tuesday. At the same time, he said that the government's financial incentives will help accelerate the economic recovery in the country.

The interest rate on deposits of commercial banks is currently minus 0.1% per annum. The target yield on ten-year Japanese government bonds is set at around zero (plus or minus 0.2 percentage points).

The Bank of Japan now expects GDP to grow by 0.8% in the current fiscal year, which ends in March 2020, against the 0.6% forecast in October. In the next fiscal year, it is expected to increase by 0.9% compared to the previous estimate of 0.7%.

The Bank of Japan's optimism about the economic situation will justify maintaining the previous course of its monetary policy for the foreseeable future, experts say.