Arab Today, arab today boj holds off fresh easing measures
Last Updated : GMT 04:19:25
Arab Today, arab today
Arab Today, arab today

BoJ holds off fresh easing measures

Arab Today, arab today

Arab Today, arab today BoJ holds off fresh easing measures

Tokyo - AFP

The Bank of Japan held off fresh easing measures on Thursday and repeated its view that the economy was “picking up moderately” but warned Europe’s ongoing debt crisis continued to cast a shadow. After a two-day policy meeting, the central bank said it left unchanged its policy tool, a 70-trillion-yen ($891-billion) asset purchase programme while it would also hold interest rates unchanged at between zero and 0.1 per cent. “Japan’s economy has started picking up moderately as domestic demand remains firm, mainly supported by reconstruction demand” following the March 11 quake-tsunami disaster, it added. The nation’s economy was hammered by last year’s terror, which wreaked havoc on industrial production, while flooding in Thailand and the yen’s surge to record highs against the dollar later in the year also hurt growth. On Thursday, the BoJ said “overseas economies have shown moderate improvement” but added that “in global financial markets some nervousness continues to be seen, mainly due to concern about the European debt problem”. Europe is a major market for Japanese products and Tokyo warned that the Eurozone’s fiscal crisis was the biggest threat to recovery. The BoJ’s decision on Thursday was largely in line with market expectations, and came after the US Federal Reserve and European Central Bank also held off fresh measures following recent policy meetings. “Japan’s economy started improving ahead of others,” Yuji Kameoka, chief currency strategist at Daiwa Securities, told Dow Jones Newswires, adding that the BoJ would likely take a “wait-and-see stance” on fresh measures. “Emerging economies like China aren’t bad. There are also signs of improvement in the US economic indicators recently. The exception is Europe.” The yen got a boost following the BoJ’s decision, with the euro buying 96.99 yen and the dollar at 78.36 yen, compared with 97.22 yen and 78.52 yen earlier. “If the Fed takes additional easing and that pushes the dollar down against the yen and increase Japan’s deflationary pressure, the BoJ may be forced to do something new,” said Barclays Securities Japan chief economist Kyohei Morita. Japan has been stuck in a deflationary spiral for years with efforts to battle a general trend of falling prices having little impact. Last month, the BoJ said it expected Japan’s economy to expand 2.2 per cent in the fiscal year through March 2013, slightly lower than its April outlook of 2.3 per cent but still above a January forecast of 2.0 per cent. It kept a 1.7 per cent growth forecast for the next fiscal year unchanged. While the bank made no major policy moves after its July meeting, it said it would tweak policy by reducing the amount of fixed-rate loans it offers by five trillion yen while it increased the purchase of treasury discount bills by the same amount.

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 off fresh easing measures Arab Today, arab today boj holds off fresh easing measures

 



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 off fresh easing measures Arab Today, arab today boj holds off fresh easing measures

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
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 Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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