5 Sep 2013
BoJ keeps policy steady, annual monetary base increase at 60-70 trln yen
FXstreet.com (Barcelona) - Bank of Japan Statement on Monetary Policy came with no changes as expected by market participants, with 60-70 trillion annual increase in monetary base as planned.
BoJ said the Japanese economy is in a modest recovery, with the top priority remaining to reach 2% inflation goal through aggressive easing. BOJ board member Kiuchi proposal to set 2% inflation a medium- to long-term goal was voted down 8 – 1.
The central bank expects the CPI to gradually improve, with pace of recovery to continue to be moderate. BoJ revised up their economic assessment.
BoJ said the Japanese economy is in a modest recovery, with the top priority remaining to reach 2% inflation goal through aggressive easing. BOJ board member Kiuchi proposal to set 2% inflation a medium- to long-term goal was voted down 8 – 1.
The central bank expects the CPI to gradually improve, with pace of recovery to continue to be moderate. BoJ revised up their economic assessment.