BoJ: No surprises offered - TDS

Analysts at TDS explain that no surprises were offered from the BoJ as it maintained its 10year JGB yield target at 0% and policy balance rate at –0.1%.

Key Quotes

“The central bank downgraded its inflation forecast for FY 2017 to 1.1% and delayed the 2% inflation target to around FY 2019. On growth, it raised its GDP forecast for the FY 2018 from 1.6% to 1.8%. Overall, these forecast changes were largely expected, and the central bank shows itself becoming more constructive towards the outlook, especially on growth although inflation remains tepid.”