Arab Today, arab today bank of japan holds fire on stimulus
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

Bank of Japan holds fire on stimulus

Arab Today, arab today

Arab Today, arab today Bank of Japan holds fire on stimulus

Stripping out impact of sales tax rise
Tokyo - AFP

The Bank of Japan on Friday held fire on launching more stimulus, days after official data showed the world's number three economy grew more than expected in the first quarter.

Policymakers kept the central bank's annual 80 trillion yen ($662 billion) monetary easing programme in place after a two-day meeting and investors will now be watching a briefing by governor Haruhiko Kuroda later in the day.

On Wednesday the government released figures showing Japan's economy, which sank into a brief recession last year, expanded by a better-than-expected 0.6 percent from the previous quarter.

In annualised terms, growth was 2.4 percent between January-March -- well ahead of disappointing 0.2 percent growth in the US economy -- as capital spending and the housing market showed signs of strength, although exports dipped slightly and consumer spending was weak.

"Japan's economy has continued to recover moderately," the bank said Friday, slightly tweaking its language from a meeting last month when it said it "continued its moderate recovery trend".

The BoJ also pointed to "declining" public investment.

Kuroda has been forced to push back a timeline for hitting a 2.0 percent inflation target -- a cornerstone of Prime Minister Shinzo Abe's plan to kickstart the deflation-plagued economy -- although he insists that price rises are around the corner.

Stripping out the impact of a sales tax rise last year, Japan's inflation rate in March came in at a tepid 0.2 percent from a year ago, well short of the BoJ's target.

That has spurred speculation of further easing measures.

"It came as no surprise that the Bank of Japan left policy settings unchanged today, and the apparent strength in Q1 GDP suggests that additional easing in July is off the table," Marcel Thieliant from Capital Economics said in a commentary.

"Nonetheless, we remain convinced that the prospect of prolonged below-target inflation will eventually convince policymakers to step up the pace of asset purchases."

In currency trading, the dollar-yen rate slipped to 120.83 from 120.91 yen just before the BoJ's announcement, and well off the 121.07 yen in New York.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of japan holds fire on stimulus Arab Today, arab today bank of japan holds fire on stimulus

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of japan holds fire on stimulus Arab Today, arab today bank of japan holds fire on stimulus

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday