Bank of Japan maintains loose monetary policy


As expected, the Policy Board of the Bank of Japan has maintained its program of expanding the monetary base at an annual rate of ¥60-70T ($611-713B) a year. (PR)

The BOJ said it is making steady progress in achieving its target of 2% inflation, and reiterated that it expects CPI of 1.3% in 2014-15 and 1.9% a year later.

The central bank slightly increased its 2014-15 GDP growth outlook to 1.5% from a prior prediction of 1.3% but maintained its 2015-16 forecast at 1.5%.

The BOJ warned that "overseas economies are performing somewhat weaker than projected" in its April semi-annual report. However, the bank expects those economies "to gradually pick up," mainly in advanced areas.

The Nikkei is -1.2% and the USD-yen is -0.2% at ¥98.32. (PR)

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Comments (1)
  • DeepValueLover
    , contributor
    Comments (11174) | Send Message
     
    Japan is trapped in a deep well of deflation.

     

    Game over.
    31 Oct 2013, 08:50 AM Reply Like
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