boj holds off fresh easing measures
Last Updated : GMT 06:27:36
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*

boj holds off fresh easing measures boj holds off fresh easing measures

 



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*

boj holds off fresh easing measures boj holds off fresh easing measures

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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