Bank of Japan Upgrades Growth and Inflation Forecasts

The Bank of Japan (BOJ) has revised upwards its growth targets for the economy and stuck to its view that the country is on track to achieve the bank’s 2 percent inflation target, the central bank said in its twice-yearly economic outlook Thursday.

The BOJ now expects the Japan’s economy to grow 1.5 percent in fiscal 2014, up from a previous target of a 13 percent expansion.

It kept its growth forecast for fiscal 2015 unchanged at 1.5 percent.

Earlier on Thursday, the BOJ made no changes to its monetary policy as widely expected, pledging to keep its massive stimulus launched in April to double the monetary base through asset purchases intact.

via CNBC

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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