# Dovish BoJ, Covid-19 Lockdowns to Keep JPY on Backfoot | Forex trading, free forex education | Forex.ca

> The Bank of Japan kept its policy settings unchanged at its April meeting, holding the policy-balance rate at -0.1% and the 10-year JGB yield target at about 0%. It raised its 2021 and 2022 GDP growth forecasts to 4% and 2.4%. Analysts expect the yen to stay weak as new coronavirus restrictions spread across Japanese prefectures.

- Date: 2021-04-27 · published 2021-04-27T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/47839-dovish-boj-covid-19-lockdowns-to-keep-jpy-on-backfoot-forex-trading-free-forex
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A persistently dovish BoJ and weak yen make Japanese feed and grain imports more expensive in local currency, which can support Japanese buyers' demand for dollar-priced feed. The effect on feed prices is indirect and small.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- forex.ca: https://www.forex.ca/dovish-boj-covid-19-lockdowns-to-keep-jpy-on-backfoot/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.