BOJ keeps policy steady, nudges up economic growth forecasts

0
17

TOKYO (Reuters) – The of Japan kept monetary policy steady and nudged up its economic growth on Tuesday, as the government’s spending package and receding pessimism over the global outlook take some pressure off the to top up stimulus.

As widely expected, the BOJ maintained its short-term interest rate target at -0.1% and a pledge to guide 10-year government yields around 0%, by a 7-2 vote.

It also maintained guidance that commits it to keeping rates at current low levels, or even cut them, until risks keeping it from achieving its 2% inflation goal subside.

Article continues below Advertisement...

In a quarterly review of its forecasts, the BOJ revised up its growth projection for the fiscal year beginning in April to 0.9% from an estimate of 0.7% growth made in October, helped by a boost from the government’s fiscal stimulus package.

BOJ Governor will hold a news conference at 3:30 p.m. (0630 GMT) to explain the .

Disclaimer: Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the , it is one of the riskiest forms possible.

Source: Investing.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here