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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
BOJ
The Bank of Japan kept all main parameters of its ultra-loose monetary policy unchanged, including negative interest rates and yield curve control framework, while sticking to the dovish forward guidance.
- The quarterly Outlook Report revealed some tweaks to the central bank's economic forecasts, reflecting a weaker growth outlook and higher anticipated inflation. Core CPI is expected to print at +2.8%-2.9% Y/Y this fiscal year, up from +2.2%-2.4% projected in July.
- On the risk balance, the Bank noted that "risks to economic activity are skewed to the downside. Risks to prices are skewed to the upside."
- Policymakers took note of "sharp fluctuations in the currency market." They vowed to "pay due attention to developments in financial and foreign exchange markets."
- The BoJ altered its ETF purchase guidance to take into account "the holding costs of each ETF and other factors." The amendment takes effect on December 1.
- Governor Kuroda will hold a press conference at 15:30 JST/07:30 BST.
Fig. 1: Forecasts of the Majority of the Policy Board Members
Source: BoJ
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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