JPY BOJ Summary of Opinions
It's the primary tool the BOJ uses to communicate their economic and monetary projections to investors;
This report includes the BOJ's projection for inflation and economic growth. Source first released in Feb 2016;
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- JPY BOJ Summary of Opinions News
The Bank of Japan's policy board discussed the possibility of raising interest rates further amid concerns over lingering inflationary pressure, according to a summary of opinions from its latest meeting released Monday. "There is a possibility that prices will deviate upward from the baseline scenario if another pass-through of recent cost increases to consumer prices happens," one of the nine policy board members said at the meeting held on June 13 and 14. "It is therefore necessary for the bank to consider whether further ...
Opinions on Economic and Financial Developments Economic Developments • Japan's economy has recovered moderately, although some weakness has been seen in part. It is likely to keep growing at a pace above its potential growth rate, as a virtuous cycle from income to spending gradually intensifies. • Although some of the latest data show relatively weak developments and some information has raised concerns, the following main scenario remains unchanged: a virtuous economic cycle is expected to be supported from the income side by significantly high levels of corporate profits and by the highest level of wage growth in around three decades, achieved in the annual spring labor-management wage negotiations. In addition, price indicators have been on track. • Private consumption lacks momentum, as high prices have affected daily shopping and consumer sentiment. Close attention needs to be paid to the extent to which wage hikes and the government's measures push up private consumption. Regarding regular employees of small and medium-sized firms and pensioners, increases in their wages and pensions may not catch up with the rise in prices for the time being. Meanwhile, increases in wages for non-regular employees and for regular employees of large firms can be expected to be equal to or greater than the rise in prices. Attention is warranted on the effects of these wage developments on private consumption. post: BOJ JUNE MEETING SUMMARY OF OPINIONS: ONE MEMBER SAID BOJ EXPECTED TO RAISE INTEREST RATE IF UNDERLYING INFLATION RISES AS PROJECTED post: BOJ JUNE SUMMARY: ONE MEMBER SAID WEAK YEN COULD LEAD TO OVERSHOOT IN INFLATION, WHICH MEANS APPROPRIATE LEVEL OF POLICY RATE WOULD BE PUSHED UP post: BOJ JUNE SUMMARY: ONE MEMBER SAID MUST DIMINISH BOJ'S PRESENCE IN BOND MARKET BY TRIMMING ITS BOND BUYING
Although the Fed’s updated dot plot pointed to only one quarter-point reduction by the end of the year, the softer-than-expected CPI numbers a few hours ahead of last week’s decision did not convince market participants about officials’ intentions. The weaker-than-expected retail sales numbers this week corroborated that view. Indeed, according to Fed funds futures, investors are penciling in around 50bps worth of reductions by the end of the year, assigning around a 70% probability for the first cut to be delivered in September.With ...
Bank of Japan board members turned overwhelmingly hawkish at their April policy meeting, with many calling for raising interest rates steadily to forestall risks of an inflation overshoot, a summary of opinions at the meeting showed. Some members saw the chance of a faster-than-expected pace of interest rate hikes on heightening prospects of inflation durably staying, or even exceeding, the BOJ's 2% target, the summary showed on Thursday. "If underlying inflation continues to deviate upward from the baseline scenario against the ...
Japan's economy has recovered moderately, although some weakness has been seen in part. It is likely to keep growing at a pace above its potential growth rate, as a virtuous cycle from income to spending gradually intensifies. Upward revisions have been observed in the outlook for overseas economies overall, particularly for the U.S. economy. Although private consumption has been relatively weak, reflecting price rises, it is likely to regain momentum, given that momentum in wage hikes has been strong recently. If firms postpone business fixed investment due to factors such as supply-side constraints, this could lead them to lose business opportunities and hinder improvement in their productivity, and in turn create a risk that firms will not be able to secure enough resources for wage hikes. Therefore, attention is warranted on developments in business fixed investment. While the output gap has been at around 0 percent, the weighted average of the diffusion indexes (DIs) for production capacity and employment conditions in the Tankan (Short-Term Economic Survey of Enterprises in Japan) indicates that shortages of production capacity and labor have been at historically high levels. In determining whether Japan's economy will keep growing steadily at a pace above its potential growth rate throughout the projection period, it post: BOJ MEMBER SUGGESTS RATE PATH MAY BE HIGHER THAN MARKET EXPECTATIONS. post: BOJ MEMBER EMPHASIZES NEED FOR APPROPRIATE RATE INCREASE AT THE RIGHT TIME
Japan's economy has recovered moderately, although some weakness has been seen in part. It is likely to continue to do so as a virtuous cycle from income to spending is maintained. The domestic economy seems to be resilient on the whole. This is suggested by the fact that, although some weakness has been seen in private consumption and production, it is largely attributable to temporary factors; moreover, with corporate profits remaining at high levels, strong wage hikes have been observed, particularly among large firms. Reasons why ...
Bank of Japan Governor Haruhiko Kuroda refused in 2013 to water down the central bank's commitment to attaining 2 percent inflation in "about two years," brushing aside worries among some board members about the ramifications of missing the target, minutes of the meeting showed Wednesday. Nearly six months after taking the helm at the BOJ in March 2013, Kuroda defended the inflation target as showing the central bank's "strong determination" to pull Japan out of deflation, telling a policy meeting in August 2013 that the purpose of ...
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