Policy board member Tamura:
Based on current economic, price outlook, BOJ likely to maintain
accomodative monetary conditions for time being
Will guide monetary policy appropriately in accordance with economic,
price, financial developments
Not there yet to allow market forces to fully drive long-term
interest rate moves
Despite our tweak to monetary policy framework, there are
side-effects remaining
Our monetary easing had some effect in underpinning economic growthJapan’s economy is showing some signs of weakness but is recovering moderatelyRises in services prices pushing up overall inflationPositive wage-inflation cycle is likely to continue
USD/JPY is showing barely any response.
This article was written by Eamonn Sheridan at www.forexlive.com.