BoJ Minutes Show Some Member Want To Focus on Downside Risks

Some Bank of Japan board members said they saw risks to the country’s economy and prices as tilted to the downside, minutes of the central bank’s Oct. 31 meeting showed on Tuesday, underscoring lingering pessimism within the board on the outlook for meeting the BOJ’s price target.

“One member said it could not yet be judged that Japan’s economy was on track to achieve the BOJ’s price target of 2 percent as expected,” the minutes showed.

At the Oct. 31 meeting, Governor Haruhiko Kuroda faced the biggest rift since adopting an aggressive monetary stimulus in April, with three of the nine board members dissenting against the bank’s rosy economic and price forecasts.

The BOJ issues long-term economic and price forecasts in a twice-yearly outlook report in April and October of each year, and conducts a quarterly review of them in January and July.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza