BoJ Kept Monetary Policy Unchanged in Shirakawa Last Meeting

The Japanese central bank, the Bank of Japan (BOJ), on Thursday ended its last policy meeting under the outgoing governor Masaaki Shirakawa, without releasing any new policies.

The central bank kept its monetary policy unchanged as it is likely to continue assessing the impact of the 2-percent inflation target introduced by the BOJ in January to curb deflation.

The BOJ also maintained its key short-term interest rate at around zero to 0.1 percent.

Meanwhile, the central bank also upgraded its assessment of Japan’s economy and said it has stopped weakening.

Shirakawa will resign on March 19 along with his two deputies and the Japanese Diet is mulling whether to approve the government ‘s nomination of Asian Development Bank President Haruhiko Kuroda as next BOJ chief.

The government also nominated Gakushuin University professor Kikuo Iwata and BOJ Executive Director Hiroshi Nakaso as deputy governors.

The nomination of the three is likely to be approved by parliament on March 15, according to local media.

via Xinhua

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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