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BOJ holds back from adding to easing policy

  • As expected, the Bank of Japan has left its key interest rate at 0.1% and maintained its program of expanding the monetary base by ¥60-70T ($580-680B) a year.
  • The BOJ refrained from further easing and maintained its optimism about the economy despite concerns about the impact of a rise in sales tax that took effect last week.
  • The "economy is continuing to recover moderately...albeit with some fluctuations due to the consumption tax hike," the bank said.
  • Japan's current account swung back to a surplus for the first time in five months in February, with the number coming in at ¥612.7B from a record deficit of ¥1.59T in January, although the surplus was lower than consensus of ¥628B. There have been fears that the deficit could become permanent, which could weaken confidence in Japan's massive debt.
  • The Nikkei closes -1.4%, while the USD-JPY is -0.3% at ¥102.80. (PR)
  • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JGBL, JPP, JPNL, JGBT, JPNS, FJP, JGBB
Comments (1)
  • june1234
    , contributor
    Comments (2626) | Send Message
     
    "There have been fears that the deficit could become permanent". Since when are they not permanent.
    8 Apr, 06:14 AM Reply Like
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