Last week I posted on JP Morgan forecasting more policy easing from the BOJ.
At the September meeting
- a cut in the short-term policy rate from -0.1l% to -0.3% in September
Today we got Q1 GDP, the inflation measure came in at 0.1%. The BOJ target is 2% for inflation so, well, yeah.
The folks at MNI (via tweet) say the BOJ is becoming more and more concerned over the outlook for Japan's recovery, citing increasing global downside risks since the April policy meeting.
