Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Bank of Japan (BOJ) policymakers didn’t bow to high market expectations of easing policy further and kept policy unaltered.
It kept its main interest rate, which was lowered to negative for first time in January, at -0.1% against popular expectations of cut further deep into the territory. I also kept its asset purchase program at ¥80 trillion per annum and ¥300 billion into ETFs.
Yen rose sharply against all currencies, reversing its last week’s massive loss. After the announcement, it dropped to 108.7 per Dollar, or 2.4%. Now it has given up some of the gains and trading at 109.2. While Yen has somewhat stabilized, Japanese benchmark stock index is still continuing lower. Yen at pixel time, is trading at 16577, down -5.3% so far today.
However. BOJ announced that it will provide zero interest loans up to ¥300 billion, to provide support to earthquake hit Kyushu area.
BOJ kept asset purchases steady with 8-1 voting. Mr. Kiuchi once again voted to reduce the purchase size to ¥45 trillion. The bank kept interest rate steady with 7-2 vote. Mr. Sato and Kiuchi dissented over rates.
