- Cuts size of fund for fixed-rate market operation backed by collateral cut to 25 trln yen from 30 trln yen.
- Revises japan FY 2012/13 GDP growth est. to 2.2 % from April forecast of 2.3%
- Keeps 2013/14 GDP growth est. at 1.7%
- Expects Japan economy to resume moderate recovery.
- Says total size of BOJ’s asset buying,lending program unchanged at 70 trl yen.
- CPI fy 2012/13 expected +0.2% and 2013/14+0.7% in line with April forecast.
- BOJ says promoting powerful monetary easing will ensure stability of Japan’s financial system .
A quick pop to a high of 79.95 then back down to 79.65, as the net size of their asset-buying/lending program would be unchanged .
