11 Apr 2014
BoJ minutes: Inflation and economy progressing as projected
FXStreet (Bali) - The minutes of the last BoJ monetary policy meeting (March 10-11) offered no surprises, keeping their commitment to conduct money market operations to increase its monetary base at an annual pace of about 60-70 trillion yen.
In other headlines via Reuters, BoJ members agreed that economy and prices are moving in line with central bank's forecast. Members also agreed on the need to monitor risk to markets posed by Ukraine and geopolitical risk. Members also shared the same line of thinking that weakness in exports is temporary and exports will gradually pick up.
With regard to the outlook, the minutes stated that "Japan's economy is expected to continue a moderate recovery as a trend, while it will be affected by the front-loaded increase and subsequent decline in demand prior to and after the consumption tax hike."
It concluded by saying that "the bank will continue with quantitative and qualitative monetary easing, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner. It will examine both upside and downside risks to economic activity and prices, and make adjustments as appropriate."
In other headlines via Reuters, BoJ members agreed that economy and prices are moving in line with central bank's forecast. Members also agreed on the need to monitor risk to markets posed by Ukraine and geopolitical risk. Members also shared the same line of thinking that weakness in exports is temporary and exports will gradually pick up.
With regard to the outlook, the minutes stated that "Japan's economy is expected to continue a moderate recovery as a trend, while it will be affected by the front-loaded increase and subsequent decline in demand prior to and after the consumption tax hike."
It concluded by saying that "the bank will continue with quantitative and qualitative monetary easing, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner. It will examine both upside and downside risks to economic activity and prices, and make adjustments as appropriate."