BOJ keeps policy steady, Kuroda press conference eyed

FXStreet (Bali) – The Bank of Japan meeting has concluded and the statement show no change in monetary policy, as widely expected. BOJ Governor Kuroda will hold a press conference at 06:30GMT.

Key Quotes – Reuters

BOJ keeps monetary policy steady, pledges to increase monetary base at annual pace of 80 trln yen

Median real GDP forecast for fiscal 2015/16 at +1.7 pct vs +2.0 pct projected in April

Median real gdp forecast for fiscal 2016/17 at +1.5 pct vs +1.5 pct projected in April

Median real gdp forecast for fiscal 2017/18 at +0.2 pct vs +0.2 pct projected in April

BOJ’s policy decision was made by 8-1 vote

Board member Kiuchi votes against policy decision

Kiuchi proposed tapering annual jgb purchases to 45 trln yen, which was turned down by majority vote

Median core CPI forecast for fiscal 2015/16 at +0.7 pct vs +0.8 pct projected in April

Median core CPI forecast for fiscal 2016/17 at +1.9 pct vs +2.0 pct projected in April

Median core CPI forecast for fiscal 2017/18 at +1.8 pct vs +1.9 pct projected in April

Says Japan’s economy continues to recover moderately, keeps assessment unchanged

Japan’s economy expected to continue recovering moderately
Slightly cuts view on exports, output

Says exports, output have been picking albeit with some fluctuations

BOJ’s price estimate based on view crude oil expected to rise moderately from recent $60 per bbl to about $70 towards end of projection period

The Bank of Japan meeting has concluded and the statement show no change in monetary policy, as widely expected. BOJ Governor Kuroda will hold a press conference at 06:30GMT.

(Market News Provided by FXstreet)