Australia has failed to raise interest rates, which all (though not unanimously), expected at that Australian reacted accordingly. In the reaction of the yen to a political solution to the Bank of Japan is much more nuanced, but it reflects the difference between an increase of 25 basis points and did not increase (in the case of the Australians), which reflects the marginal change the target rate for overnight loans, which are trading below 0.1% for two-week average value for 7 months.Bank of Japan plans to purchase various assets currently have a limited impact, not least because the yield on 10-bee-entrance 0.90% and the potential impact of lower interest rates much lower than was the case with the U.S. and Britain when it was first implemented quantitative easing. Indeed, the transition mechanism to the real economy is much more complicated and with less impact on mortgage rates than the U.S.. In addition, lower interest rates will reduce the already meager earnings of Japanese investors, which will promote the growth of savings and / or a higher volume of foreign investments. Nevertheless, both options are far from clear. At the moment, a weaker dollar pushed the pair USD / JPY to a lower level that has prevailed to the present result, and largely returned to the levels recorded before the intervention.
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