The First trading day of the week was affected by lowered activity on the stock platforms due to the bank holiday in the United States.
This morning, interesting news came from the Bank of Japan, reporting its intention to continue soft monetary policy until the time the rate of inflation will reach 2%. The regulator plans to continue an annual increase in monetary base in the range of 60 trillion to 70 trillion yen. This decision was made unanimously and coincided with average forecasts of analysts. In addition, the Bank of Japan confirmed the volume of repayment of state bonds on the level of 50 trillion yen a year. It should also be noted that the central bank of the country also made the decision to prolong three programs of crediting for a year, which were expiring in March.
This news immediately had an effect on the Japanese yen and Japanese stock market. The Japanese yen fell sharply in price against the dollar, and is traded this morning on a level of 102.59. The weakening yen pushed up prices of the Japanese companies focused on export, and as a result, the Nikkei grew by 3.18%.
The situation in the commodities market remains the same, Brent is losing around 0.10% and is traded on the level of 109.07$ per barrel. WTI is slightly better, growing by 0.22% on the level of 100.35$ per barrel. Gold is stable and is losing just 0.02%, traded on a level of 1318.30$ per troy ounce. Silver remains strong at the price of 21.56$ and adds 0.65%.
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