- MarketPulse - https://www.marketpulse.com -

Bank of Japan Unanimously Maintains Policy

The Bank of Japan decided Wednesday to maintain its current aggressive monetary easing policy aimed at beating deflation and upgraded the country’s economic assessment, at a time when consumption and exports have started to recover, backed by a weakening yen and rising stocks.

Lifting the economic assessment for a fifth month in a row, the central bank said “Japan’s economy has started picking up,” revising upward its description at the previous policy meeting on April 26 saying that it “has stopped weakening and has shown some signs of picking up.”

According to a statement released after a two-day policy meeting, the nine-member Policy Board unanimously decided that the BOJ will increase the monetary base at an annual pace of around 60 trillion yen to 70 trillion yen, in line with measures announced in April.

The policy measures announced on April 4 to achieve a 2 percent inflation target in about two years also include additional purchases of government bonds and riskier financial assets such as exchange-traded funds.

“Exports have stopped decreasing as overseas economies have been moving out of the deceleration phase that had continued since last year and are gradually heading toward a pickup,” the BOJ said in the statement.

via Mainichi [1]

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 [6]

Senior Currency Analyst at Market Pulse [7]
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
Alfonso Esparza

Latest posts by Alfonso Esparza (see all [6])