The Bank of Japan (BOJ) kept monetary policy steady on Friday and revised up its assessment on overseas economies, signalling confidence that the country can meet its price target without additional stimulus.
As expected, the central bank voted unanimously to maintain its pledge of increasing base money, its key policy gauge, at an annual pace of 60-70 trillion yen ($590-$688 billion). The BOJ also maintained its view on the domestic economy, noting it continues to recover at a moderate pace.
The BOJ has stood pat since launching an intense burst of stimulus last April, when it pledged to double base money via aggressive asset purchases to achieve its 2 percent inflation target in roughly two years.
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.