BOJ keeps stimulus pace to reach inflation target . . .. . . . . . . . . . Governor Haruhiko Kuroda of The Bank of Japan decided today to keep the bank’s monetary stimulus pace for another stage in order to reach the targeted 2 percent inflation rates, which still needs more efforts to achieve. Moreover, The Bank of Japan will continue to expand the nation’s monetary base by 60 to 70 trillion yen ($688 billion) annually, where policy makers ensured earlier that the effect of higher sales tax remains inline with forecasts. Furthermore, current improvement in Japan’s consumer confidence and stronger business investment indicate the world’s third largest economy is adapted with sales-tax hike plan which took place in 1 st of April. On the other side, Japanese yen gained 3 percent against the US dollar during the recent period, which make the inflation target harder for the central bank to reach, which boosts estimates that bank will boost stimulus this year to achieve its target. Japanese yen fell against the US dollar after the data amid the boosted risk appetite in market, where the USD/JPY pair gained to high of 101.821 after starting today’s session at 101.708. #egyptyard
Posted on: Fri, 13 Jun 2014 12:16:43 +0000
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