Objective: Outlined in the Bank of Japan Act 1942, the purpose of the BoJ is to issue bank notes and to carry out currency and monetary control. The Act defines monetary control through achieving price stability, thereby contributing to the sound development of the national economy.As of 2013, the BoJ has defined price stability as a 2% year-on-year rate of change in CPI.
As of February, Nationwide inflation in Japan stands at -0.4%; although Tokyo CPI for March printed at -0.2%. The BoJ have failed to reach their inflation target since inflation plummeted to 0.6% from 2.3% in April 2015. Since then, Japan's highest reading was 1.5% in February 2018.
Situation: At their March meeting, the BoJ kept the Policy Rate unchanged at -0.10% and maintained the long-term yield target at 0%; although, they did raise the target band for yields, allowing yields to now fluctuate by +/-25bps from target.
Governor Kuroda added, he does not this it is impossible to deepen negative rates and the steps taken will allow the BoJ more flexibility to deepen negative rates.
As of February, Nationwide inflation in Japan stands at -0.4%; although Tokyo CPI for March printed at -0.2%. The BoJ have failed to reach their inflation target since inflation plummeted to 0.6% from 2.3% in April 2015. Since then, Japan's highest reading was 1.5% in February 2018.
Situation: At their March meeting, the BoJ kept the Policy Rate unchanged at -0.10% and maintained the long-term yield target at 0%; although, they did raise the target band for yields, allowing yields to now fluctuate by +/-25bps from target.
Governor Kuroda added, he does not this it is impossible to deepen negative rates and the steps taken will allow the BoJ more flexibility to deepen negative rates.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.