Yen Falls after BOJ Keeps Interest Rates Intact

Tokyo, Oct. 30 (Jiji Press)–The yen fell past 153 per dollar in Tokyo trading on Thursday as hopes for an early interest rate hike by the Bank of Japan faded after the central bank decided to keep interest rates unchanged. At 5 p.m. the dollar stood at 153.42-44 yen, up from 152.06-06 yen at same time on Wednesday. The euro was at 1.1619-1619 dollars, down from 1.1632-1633 dollars, and at 178.23-29 yen, up from 176.88-91 yen. The euro reached a new record high versus the yen. Following the BOJ policy decision, the dollar jumped from around 152.15 yen to around 153.10 yen. The BOJ made the decision by a 7-2 vote. Two members of its Policy Board proposed raising interest rates, as they did at the previous policy-setting meeting in September. “Calls for raising interest rates did not spread to other Policy Board members, so speculation of a rate hike did not strengthen,” said an official at a currency brokerage firm. The yen faced renewed selling later as BOJ Governor Kazuo Ueda did not hint at raising interest rates in December or January during at a press conference after the policy meeting, a Japanese bank official said. END [Copyright The Jiji Press, Ltd.]