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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)
  • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JGBL, JSC, JPP, ITF, JGBT, DXJS, JPNL, JPNS, FJP
Comments (1)
  • DeepValueLover
    , contributor
    Comments (8526) | 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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