Major U.S. stock indexes are in the red at the opening on Thursday after the Bank of Japan decided to provide no additional stimulus and U.S. first quarter GDP came in weaker than expected today.
The dollar is falling against the Japanese yen following a decision from the Bank of Japan to hold back from expanding its monetary stimulus program after driving interest rates into negative territory at a January meeting that went into effect on February 16th.
Yesterday the U.S. Federal Reserve decided to not raise interest rates at their 2 day April FOMC meeting but could still decide to raise interest rates at their June FOMC meeting.
Here is the Fed’s statement.
Today the U.S. Bureau of Economic Analysis reported that the U.S. economy expanded at an annual rate of 0.5 percent in the first quarter of 2016, missing a consensus estimate of 0.9 percent from briefing.com.
In the fourth quarter of 2015, real GDP increased 1.4 percent.
The 2nd estimate of U.S. first quarter GDP based on more complete economic data will arrive on May 27th.
Tomorrow March PCE inflation data will be reported.