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The Bank of Japan probably won't do anything until July (USD, USDJPY, JPY)

On January 28, the Bank of Japan shocked the global markets by introducing negative interest rates. In a 5-to-4 vote, BOJ members agreed to charge financial institutions an interest rate of -0.1% for excess reserves parked at the bank. The BOJ's next policy meeting takes place March 14-15, but that likely won't include an announcement of more easing, Barclays says. The investment firm has pushed back its expectation of more BOJ easing until the July meeting.
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