empty
 
 

2018.01.2302:03:00UTC+00BOJ Stands Pat on Policy, Retains Inflation Outlook

Japan's central bank left its monetary stimulus policy unchanged on Tuesday and retained its inflation and economic projections. But it offered a more upbeat view on inflation expectations compared to three months ago, indicating its resolve that a strengthening economy will gradually drive price growth up to its two percent target.

As widely expected, the Bank of Japan maintained a pledge to guide short-term interest rates at -0.1 percent and 10-year Japanese government bond yields around zero percent at its two-day policy review that was completed on Tuesday.

Inflation expectations remain more or less unchanged, an improvement from a prior assessment that they were weakening, although it said that risks to prices continue to be inclined towards the downside.

The BOJ maintained its 1.4 percent economic growth estimate for the year in its quarterly review of its forecasts. It also retained its 0.7 percent projection for growth in 2019.

The board also retained its price forecasts that predict inflation will hit 2 percent around the financial year ending in March 2020.

The yen appreciated as the market responded to the BOJ's view of price expectations, last trading 110.77 versus the dollar, higher than the 110.90 prior to the publication of BOJ's policy statement.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback