Minutes from Bank of Japan August 7 & 8 monetary policy board meeting (Headlines via Bloomberg)
- Most BOJ members said will check risks, make adjustments as necessary
- Japan’s economy is continuing to recover moderately
- Economic virtuous cycle operating steadily
- Important to gauge the underlying price trend
- Price target set based on CPI for all items
- Must watch economic developments behind the price data
- Moderate increase in exports likely
- Quantitative and qualitative monetary easing (QQE) has been exerting its intended effects, and the Bank will continue with QQE
Link to full text: Minutes of the Monetary Policy Meeting on August 7 and 8, 2014
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Meanwhile, as I update … USD/JPY grinding it out to new highs … 106.11 as I type … 106.15 now (next update) … highest since October 2008
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More from Japan this morning: Japan Money stock M2 and M3 data for August
Japan – July Tertiary Industry index 0.0% m/m (vs.expected +0.2%)
