Bank Of Japan Keeps Policy Settings Unchanged - For Now

Summary

• The BoJ has unanimously decided to maintain its ultra-easing monetary policy.
• It is looking for clearer signs of sustainable inflation growth.
• We believe higher-than-expected inflation, a continued solid economic recovery, and growing pressures from the weaker yen will eventually convince the bank to revise its YCC policy in July.

Evgeny Gromov

By Min Joo Kang, Senior Economist, South Korea, and Japan

The Bank of Japan's no-change decision was very much in line with market expectations

The Bank of Japan's (BoJ's) monetary policy statement hasn't changed much at all on its view