Arab Today, arab today boj holds fire on stimulus economy recovering
Last Updated : GMT 16:15:20
Arab Today, arab today
Arab Today, arab today

BoJ holds fire on stimulus, economy recovering

Arab Today, arab today

Arab Today, arab today BoJ holds fire on stimulus, economy recovering

Tokyo - AFP

The Bank of Japan on Thursday held off announcing any fresh measures to stimulate the economy, saying it was "recovering moderately" and that efforts to stoke inflation were taking hold. The central bank's decision, after a two-day meeting, to hold steady on monetary easing comes despite a significant slowdown in growth in the July-September quarter. The BoJ unveiled its vast asset-buying scheme in April as part of a broader plan by Prime Minister Shinzo Abe to reinvigorate the economy and eradicate deflation with a policy blitz dubbed Abenomics. "Japan's economy has been recovering moderately," the bank said in a statement. "The year-on-year rate of increase in the CPI (consumer price index) is likely to rise gradually." Reversing years of falling prices is a key goal of the BoJ's easing plan, with the bank aiming for 2.0 percent inflation in two years. Analysts, however, have been increasingly sceptical of that ambitious timeline. The bank has been ratcheting up its economic growth outlook, with its most recent forecast predicting an average 2.7 percent expansion in the year to next March, with inflation at 0.7 percent. Inflation is tipped at 1.9 percent within about two years, the BoJ said last month. Last week, official data showed economic growth halved year-on-year in the July-September quarter as exports weakened and consumer spending slowed. Despite its upbeat outlook, the BoJ on Thursday acknowledged headwinds from overseas could throw its predictions off course. "There remains a high degree of uncertainty concerning Japan's economy, including the prospects for the European debt problem ... and the pace of recovery in the US economy," it said. The central bank added it remained open to further easing measures if necessary. We "will examine both upside and downside risks to economic activity and prices, and make adjustments as appropriate", it said. BoJ governor Haruhiko Kuroda will hold a press conference later Thursday. Analysts have been warning that Tokyo's bold programme -- a mix of big government spending and central bank monetary easing -- is not enough on its own to stoke lasting growth without promised economic reforms. Critics of Abe's policy say growth so far is largely thanks to stimulus spending and the BoJ's injections of vast sums of money into the financial system, similar to the US Federal Reserve'squantitative easing. Some analysts argue the BoJ will have to usher in more monetary easing at some point to shore up Tokyo's efforts. The bank's meeting comes a day after minutes from the Federal Reserve's October policy meeting indicated it would cut its bond-buying "in coming months".

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 boj holds fire on stimulus economy recovering Arab Today, arab today boj holds fire on stimulus economy recovering

 



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 boj holds fire on stimulus economy recovering Arab Today, arab today boj holds fire on stimulus economy recovering

 



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