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Deutsche Bank analysts note that the BoJ kept its monetary policy unchanged at their meeting overnight maintaining the settings on its yield curve-control program and asset purchases while also keeping its interest rate pledge the same as before.
Key Quotes
“The accompanying statement added a new sentence that, “In particular, in a situation where downside risks to economic activity and prices, mainly regarding developments in overseas economies, are significant, the Bank will not hesitate to take additional easing measures if there is a greater possibility that the momentum towards achieving the price stability target will be lost.”
“We are slowly moving that way as the BoJ revised down both the core inflation and growth forecasts for 2019 by one-tenth to +1.0% and +0.7%, respectively.”