31 Oct 2013
BOJ semi-annual report: QE to achieve inflation goal
FXstreet.com (Barcelona) - BOJ semi-annual report notes the QE program will continue until achieving 2% inflation.
The central bank also said core CPI expected +1.3% in fiscal 2014/15, with +1.9% being the projection for 2015/16, that is excluding effect of sales tax hike. The bank also said CPI likely to reach 2% target end of fiscal 2014 through 2015.
Referring to the BOJ policies, it stated it is prepared to make adjustments as necessary for upside and downside risk. On the GDP, the forecast is +1.5% in fiscal 2014/15 vs +1.3% forecast prev GDP.
BoJ also said, with quotes from JD: "It has agreed with 5 central banks, including FED and ECB, to make existing temporary bilateral swap arrangements into permanent ones, while bilateral liquidity swap arrangements among the 6 central banks will remain in place until further notice. Existing swap arrangements have helped to ease strains in markets."
The central bank also said core CPI expected +1.3% in fiscal 2014/15, with +1.9% being the projection for 2015/16, that is excluding effect of sales tax hike. The bank also said CPI likely to reach 2% target end of fiscal 2014 through 2015.
Referring to the BOJ policies, it stated it is prepared to make adjustments as necessary for upside and downside risk. On the GDP, the forecast is +1.5% in fiscal 2014/15 vs +1.3% forecast prev GDP.
BoJ also said, with quotes from JD: "It has agreed with 5 central banks, including FED and ECB, to make existing temporary bilateral swap arrangements into permanent ones, while bilateral liquidity swap arrangements among the 6 central banks will remain in place until further notice. Existing swap arrangements have helped to ease strains in markets."