This article examines the impact of news about the Bank of Japan’s financial policy regarding the Japanese yen and U.S. dollar interest rates. In general, whether or not the news announcements from the financial authorities impact their own markets is related to the successful conduct of their policies. In Japan, a zero/low interest rate or quantitative easing policy has been conducted under severe economic conditions to combat deflation and recession for almost 10 years, so there is some possibility that evident changes in interest rates do not occur. Also, there is no consensus about effectiveness of new announcements. Empirical results show recent significant impact of the Bank of Japan announcements on not only Japanese interest rates but also on those of United States. These results have contributed to the recent success of financial policy in Japan.