21 Nov 2013
BoJ keeps policy unchanged, retains 60T-70T easing plan
FXstreet.com (Barcelona) - The BoJ meeting has concluded with the policy kept steady, retaining its plan for 60T-70T yen in annual rise in the monetary base, committing to keep easing until the sustained 2% inflation is reached.
With regards to the economic assessment, the Central Bank kept the forecast unchanged, noting "the economy is recovering moderately as a whole, but there are weaknesses." BOJ board member Kuichi proposed the 2% inflation target a medium to long-term goal, although the proposal was turned down by a clear 8-1 vote. BOJ added CPI is likely to rise gradually.
With regards to the economic assessment, the Central Bank kept the forecast unchanged, noting "the economy is recovering moderately as a whole, but there are weaknesses." BOJ board member Kuichi proposed the 2% inflation target a medium to long-term goal, although the proposal was turned down by a clear 8-1 vote. BOJ added CPI is likely to rise gradually.