22 May 2015
BoJ keeps policy steady, upgradess economic view
FXStreet (Bali) - The BoJ monetary policy meeting has been released, with the Central Bank retaining its plan for JPY 80 trl annual rise in monetary base, as expected by the market.
Following the upbeat Japanese Q1 GDP print earlier this week, the BOJ revised up its assessment on the economy. The Bank also revised up the assessment of private consumption. The vote went 8-1 in favour of keeping monetary base target unchanged. BoJ's Kiuchi, as usual, proposed to lower monetary base target to JPY 45 trl.
As per inflation expectations, the BoJ noted they are rising from longer-term view, although it acknowledged that consumer inflation is likely to hover around zero pct for the time being due to energy price falls. The bank also added that housing investment is bottoming out with some signs of pickup.
Following the upbeat Japanese Q1 GDP print earlier this week, the BOJ revised up its assessment on the economy. The Bank also revised up the assessment of private consumption. The vote went 8-1 in favour of keeping monetary base target unchanged. BoJ's Kiuchi, as usual, proposed to lower monetary base target to JPY 45 trl.
As per inflation expectations, the BoJ noted they are rising from longer-term view, although it acknowledged that consumer inflation is likely to hover around zero pct for the time being due to energy price falls. The bank also added that housing investment is bottoming out with some signs of pickup.