The yen weakened against the dollar Thursday after the Bank of Japan (BOJ) decided to hold steady its current monetary policy. The BOJ’s decision disappointed some investors who had anticipated further easing measures to combat deflation and stimulate economic growth.

Market Reaction

Following the announcement, the dollar rose against the yen, reflecting market disappointment. Analysts suggest that the BOJ may be waiting to assess the impact of previous easing measures before implementing new ones.

BOJ’s Stance

The BOJ has maintained its commitment to achieving its 2% inflation target. The central bank believes that the current monetary policy is sufficient to support economic recovery and push inflation towards its goal.

Expert Commentary

“The BOJ is in a wait-and-see mode,” said a senior economist at a major financial institution. “They want to see how the global economy and domestic demand evolve before making any further moves.”

Future Outlook

The market will be closely watching upcoming economic data releases for clues about the BOJ’s future policy decisions. Any signs of weakening economic growth or persistent deflation could prompt the BOJ to take further action.