20 Mar 2015
BOJ minutes show rising concern over JGB volatility – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments on the key developments in the Japanese market – Kuroda’s view on reaching inflation target, and BOJ’s concern over JGB market volatility.
Key Quotes
“In Japan, BOJ Gov Kuroda reiterated CPI will likely reach 2% in or around FY15, even though the central bank further scaled back its inflation outlook in its policy meeting earlier this week.”
“Meeting minutes for last month saw board members holding a similar opinion, even though the MOF representative on the board stopped urging that the time-based inflation objective is maintained. Some members noted an increase in volatility in the JGB market, and a few questioned sustainability of JGB purchases at current pace.”
“Separately, a Nikkei report in late US session speculated that the cabinet office (govt) will raise its monthly economic assessment for the first time since July 2014 when the report is published on Monday.”
“Japan has held assessment unchanged since November, when it was lowered following another round of QE by the central bank.”
Key Quotes
“In Japan, BOJ Gov Kuroda reiterated CPI will likely reach 2% in or around FY15, even though the central bank further scaled back its inflation outlook in its policy meeting earlier this week.”
“Meeting minutes for last month saw board members holding a similar opinion, even though the MOF representative on the board stopped urging that the time-based inflation objective is maintained. Some members noted an increase in volatility in the JGB market, and a few questioned sustainability of JGB purchases at current pace.”
“Separately, a Nikkei report in late US session speculated that the cabinet office (govt) will raise its monthly economic assessment for the first time since July 2014 when the report is published on Monday.”
“Japan has held assessment unchanged since November, when it was lowered following another round of QE by the central bank.”