BoJ: Economic assessment unchanged – TDS

FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TDS, notes that there were no real surprises in today’s announcement by the BoJ in keeping policy unchanged, sticking to its policy of expanding the monetary base at an annual pace of ¥80tn with only 1 dissenter as usual calling for trimming purchases to ¥45tn.

Key Quotes

“The statement was more or less the same as previous statements, but the Bank did note that exports and industrial production had been affected by the slowdown in EMs.”

“The Bank still holds onto its prediction that its 2% inflation target will be reached by next summer, but as per comments from other officials over the past few weeks, the drop in the oil price has the market pretty much convinced that this target is unlikely to be met.”