BOJ Policy Board

Tadaaki Kumagai: The report triggered a market reaction before the board had even emerged from its closed-door meeting, according to The Japan Times. The yen went into a steep dive and there was a huge rally in stocks in Tokyo as investors cheered the BOJ newest thrust in a bid to kick-start the economy. A report Friday on the website of the Nikkei business daily posted minutes before the decision announcement said the BOJ Policy Board was considering setting a negative interest rate. We have started investigating the matter, said BOJ spokesman Tadaaki Kumagai. The Nikkei did not immediately comment on the investigation. We are interviewing BOJ officials who were in a position to know policy discussions and some government officials as they were also participating in the meeting, he added. (news.financializer.com). As reported in the news.