The BOJ at the conclusion of their meeting.
- Keeps monetary policy steady, pledges to increase monetary base at annual pace of 80 trln yen
- Decision was made by 8-1 vote
- Kiuchi votes against keeping policy steady, saying that policy before the October 31 easing was appropriate … also proposed making 2 pct inflation target a medium- to long-term goal, which was turned down by 8-1 vote
- The BOJ raises its economic assessment
- Raises assessment on output
- Raises assessment on exports
- Says the Japanese economy continues to recover moderately as a trend with effect of sales tax hike waning as a whole
- Says that exports are showing signs of pickup, output seems to be bottoming out
- Business sentiment generally favourable although some cautiousness has been observed
- Capex has been on a moderate rising trend as corporate profits improve
- Private consumption remains resilient as a trend with effect of sales tax hike waning as a whole
Headlines via Reuters
Added:
- BOJ says the core CPI is likely to be around the current level for the time being
–
Well, you can’t say these guys and gals at the BOJ aren’t optimistic … raising their economic assessments. I hope they are right for Japan’s sake.
–
Here is the full text: Statement on Monetary Policy (Announced at 12:28 p.m.) [PDF 149KB]
–
Oh … and let’s take a look ahead … Scheduled Dates of Monetary Policy Meetings in January-December 2015
