The Bank of Japan have concluded their two-day monetary policy meeting with no change to policy, as expected.
- BOJ keeps monetary policy steady by unanimous vote
- Pledges to increase monetary base at annual pace of 60-70 trln yen
- The board turns down by 8-1 vote proposal by Kiuchi to make 2% inflation target a medium- to long-term goal
- Says economy continues to recover moderately as a trend, keeps assessment unchanged
- Revises up assessment on overseas economies
- Says overseas economies are recovering although lacklustre performance still seen in some areas
- Says industrial output continues to rise moderately as a trend
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Headlines via Reuters, Full text is here at the BOJ website.
Next up from the BOJ will be Kuroda’s press conference at 0600GMT
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Yen isn’t doing anything, really. No change was expected, and delivered. The upgrade to the outlook for overseas economies was telegraphed, too.
