Interest Rate Decision, Statement and Conference (JPY, GMT 03:00 & 06:00) –Last February, the BoJ stepped in as yields continued to rise. The BoJ announced that it would buy an unlimited amount of bonds at a fixed rate on February 14 in a bid to stop upward pressure on interest rates and re-affirm its commitment to an accommodative policy stance. The BoJ has been opting out of the general move towards policy normalisation that has become the mantra at many central banks and BoJ’s Kuroda has been adamant that for Japan there is still the need to keep easing.
Retail Sales (CAD, GMT 13:30) – Canada’s Retail Sales are seen in contraction at -2.1% in January, with the core at -2.0% m/m from -2.5% m/m.
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Andria Pichidi
Market Analyst
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