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BOJ 'summary of opinions': Risk balance still down

The 'summary of opinions' from the March (15 and 16) Bank of Japan monetary policy meeting have been published, noting that balance of risks to Japan and overseas economies remain tilted to the downside

Headlines

Export, production remain weak, may affect capex

Markets remain unstable since the beginning of the year, but no disruption in Japan's economy

Wage growth weak

Data on inflation expectations falling

Chance of consumer inflation (excl. food, energy) remaining above 1% has diminished

Big action in the commodities sector and currencies - Westpac

In respect to the commodities sector's sell-off, analysts at Westpac explained that the AUD/USD fell steadily from the Sydney afternoon highs above 0.7640 to a New York low of 0.7520.
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AUD/NZD: downside headed towards key 1.1200

AUD/NZD bears are currently making headway to the downside while the Kiwi continues on the bid in the cross on the back of the trade balance for Feb.
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