28 Oct 2013
Flash: The yen remains an attractive funding currency – BTMU
FXstreet.com (London) - Lee Hardman at Bank of Tokyo Mitsubishi explains the yen remains an attractive funding
currency.
Key Quotes:
“BoJ Deputy Governor Kikuo Iwata reiterated over the weekend that BoJ will continue to purchase assets expanding its balance sheet aggressively until it achieves its 2.0% inflation target”.
“We do not expect any change in monetary policy form the BoJ at this week’s meeting on the 31st October. The BoJ will present its latest semi-annual Outlook report”.
“The BoJ may revise up modestly its forecast for real GDP growth reflecting the fiscal stimulus package recently announced by the government to help offset the drag on growth from the sales tax hike from April 2014”.
“The inflation outlook is expected to remain largely unchanged with the BoJ still projecting that it will just about achieve its 2.0% target on a quarterly basis by around mid-2015”.
currency.
Key Quotes:
“BoJ Deputy Governor Kikuo Iwata reiterated over the weekend that BoJ will continue to purchase assets expanding its balance sheet aggressively until it achieves its 2.0% inflation target”.
“We do not expect any change in monetary policy form the BoJ at this week’s meeting on the 31st October. The BoJ will present its latest semi-annual Outlook report”.
“The BoJ may revise up modestly its forecast for real GDP growth reflecting the fiscal stimulus package recently announced by the government to help offset the drag on growth from the sales tax hike from April 2014”.
“The inflation outlook is expected to remain largely unchanged with the BoJ still projecting that it will just about achieve its 2.0% target on a quarterly basis by around mid-2015”.