BoJ could add to its accommodative policy this year – Rabobank

FXStreet (Barcelona) - The Rabobank Team reviews today’s Japanese GDP data release, and further mentions that with the BoJ failing to garner any negative comments at the G20 meet for using currency to boost its growth only raises hopes for further addition in Japan’s monetary policy in 2015.

Key Quotes

“As expected Japan managed to grow itself out of technical recession in Q4. GDP growth at 0.6% q/q was weaker than the 0.9% q/q outcome that was expected on the back of softer than expected household and corporate spending.”

“However, exports grew by a solid 2.7% q/q in another signal that last year’s sharp fall in the value of the yen is doing some heavy lifting for the Japanese economy.”

“Comments from BoJ Governor Kuroda last week that Japan was not criticised at the G20 meeting for using the currency to boost growth has supported hopes that the BoJ could add to its hugely accommodative monetary policy this year.”

“No change is expected from this week’s BoJ policy meeting.”

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