21 Jul 2015
BoJ as its stands on QQE - UOB
FXStreet (Guatemala) - Analysts at UOB Group noted the recent outcomes of the BoJ minutes.
Key Quotes:
"The JPY kicked off the week on a weaker footing, unable to resist the broad strength in the dollar due to the holiday in Japan."
"The minutes of the BoJ 18/19 June policy meeting showed members agreeing the underlying trend in inflation (which was determined by the output gap and mid-to-long term inflation expectations) would continue to improve."
"But a few members were concerned that the effects of QQE might be wearing off as they considered the rise in long-term rates temporarily to 0.5-0.6% range. That said, some members still viewed the effects of QQE to be substantial given the stable low Japan interest rates despite the rise in interest rates overseas."
"While the members debated and agreed to cut down the number of MPM meetings from 2016 onwards, the members also maintained the flexibility to call for unscheduled meetings if the economic situation changed significantly.
Key Quotes:
"The JPY kicked off the week on a weaker footing, unable to resist the broad strength in the dollar due to the holiday in Japan."
"The minutes of the BoJ 18/19 June policy meeting showed members agreeing the underlying trend in inflation (which was determined by the output gap and mid-to-long term inflation expectations) would continue to improve."
"But a few members were concerned that the effects of QQE might be wearing off as they considered the rise in long-term rates temporarily to 0.5-0.6% range. That said, some members still viewed the effects of QQE to be substantial given the stable low Japan interest rates despite the rise in interest rates overseas."
"While the members debated and agreed to cut down the number of MPM meetings from 2016 onwards, the members also maintained the flexibility to call for unscheduled meetings if the economic situation changed significantly.