The Bank of Japan two-day monetary policy meeting has concluded
BOJ keeps monetary policy steady, pledges to increase monetary base at annual pace of 80 trln yen
- Policy decision was made by 8-1 vote
- Board member Kiuchi proposed changing monetary policy to expand monetary base at annual pace of 45 trln yen
- Kiuchi's proposal was rejected by majority vote
- Kiuchi proposed making 2 pct inflation target a medium to long-term goal and agreeing to keep asset purchases and zero interest rates as long as appropriate
- Kiuchi's proposal on inflation target was rejected in 8-1 vote
More:
- Japan's economy continues to recover moderately as a trend
- Japan's economy likely to continue recovering moderately as a trend
- Consumer inflation likely to hover around zero pct for time being due to energy price falls
- Says consumer inflation hovering around zero pct excluding effect of sales tax hike
