13 Jun 2014
BoJ stayed put, as expected – Danske Bank
FXStreet (Edinburgh) - Senior Analyst Morten Helt at Danske Bank remarked that the BoJ left its policy unchanged in today’s meeting, in line with consensus.
Key Quotes
“The Bank of Japan (BoJ) this morning announced that it has decided to keep both its interest rates and its target for asset purchases unchanged and thus the BoJ will continue to expand the monetary base at an annual pace of about JPY60-70trn”.
“With inflation picking up and stronger-than-expected business investments, the probability of further BoJ easing has indeed been reduced markedly”.
“However, we still believe that the bank will be forced to ease monetary policy further in order to achieve its inflation target. In our main scenario, BoJ increases its monetary base target in October”.
Key Quotes
“The Bank of Japan (BoJ) this morning announced that it has decided to keep both its interest rates and its target for asset purchases unchanged and thus the BoJ will continue to expand the monetary base at an annual pace of about JPY60-70trn”.
“With inflation picking up and stronger-than-expected business investments, the probability of further BoJ easing has indeed been reduced markedly”.
“However, we still believe that the bank will be forced to ease monetary policy further in order to achieve its inflation target. In our main scenario, BoJ increases its monetary base target in October”.