mardi 17 mars 2015
Bank of Japan maintains aggressive stimulus, but cuts inflation outlook
Posted on 02:21 by nice news
The Bank of Japan maintained its massive stimulus programme on Tuesday and signalled its conviction that a steady economic recovery will help achieve its ambitious price target without immediate, additional monetary easing.
The central bank, however, offered a slightly more downbeat view on the price outlook, though it stressed the slowdown in inflation was due to temporary declines in oil prices.
BOJ Governor Haruhiko Kuroda acknowledged that the oil drop could briefly pull Japan's consumer prices back into negative territory but insisted the central bank's policy is on track to ending nearly two decades of deflation and fitful growth.
"Our quantitative and qualitative easing policy is exerting its intended effect," Kuroda told a news conference after the meeting, in which the BOJ, as widely expected, maintained its stimulus programme that pledges to print money at an annual pace of 80 trillion yen ($660 billion).
"There's absolutely no change to our stance of aiming to achieve our 2 percent inflation target at the earliest date possible with a timeframe of roughly two years," said Kuroda, who will mark two years in office on Friday.
BOJ policymakers have sent a concerted signal to investors that while they expect inflation to grind to a halt in coming months, they see no need to respond unless the price weakness hits inflation expectations.
The central bank, however, offered a slightly more downbeat view on the price outlook, though it stressed the slowdown in inflation was due to temporary declines in oil prices.
BOJ Governor Haruhiko Kuroda acknowledged that the oil drop could briefly pull Japan's consumer prices back into negative territory but insisted the central bank's policy is on track to ending nearly two decades of deflation and fitful growth.
"Our quantitative and qualitative easing policy is exerting its intended effect," Kuroda told a news conference after the meeting, in which the BOJ, as widely expected, maintained its stimulus programme that pledges to print money at an annual pace of 80 trillion yen ($660 billion).
"There's absolutely no change to our stance of aiming to achieve our 2 percent inflation target at the earliest date possible with a timeframe of roughly two years," said Kuroda, who will mark two years in office on Friday.
BOJ policymakers have sent a concerted signal to investors that while they expect inflation to grind to a halt in coming months, they see no need to respond unless the price weakness hits inflation expectations.
Bank of Japan maintains aggressive stimulus, but cuts inflation outlook
Inscription à :
Publier les commentaires (Atom)
0 commentaires:
Enregistrer un commentaire