The Bank of Japan (BOJ) kept monetary policy unchanged on Wednesday, but cut its core consumer inflation projections issued three months ago, largely due to a collapse in global oil prices.
As expected, the BOJ pledged to increase the monetary base at an annual pace of 80 trillion yen ($676 billion) through purchases of government bonds and risky assets.
It also extended the March deadline of two loan programs, both aimed at nudging banks to lend more instead of sitting on their pile of cash, by one year. It increased the size of one of the programs by 3 trillion yen, to 10 trillion yen.
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015