BoJ: Gloomier outlook for the economy – Deutsche Bank

Deutsche Bank analysts note that the BoJ decided to maintain its policy rates and asset purchases today, as was widely expected, while taking a gloomier outlook for the economy.

Key Quotes        

“The BoJ said that Japan’s economy continued to expand moderately, but the global slowdown had caused "some weakness" recently in exports and industrial production but added that the global economy would keep growing moderately and in turn support a rising trend in Japanese exports and a further expansion of the domestic economy. In the meantime, Japan’s Finance Minister Taro Aso said that the BoJ should take a flexible view of the 2% inflation target.”