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BoJ Minutes: Japan Economy Expected To Continue Recovery
(RTTNews) - Members of the Bank of Japan's Monetary Policy Board said that the country's economy is on an upward trend which is likely to continue, minutes from the central bank's Sept. 21-22 monetary policy meeting revealed on Monday.
Annual inflation is expected to decelerate, although import prices remain a variable, the minutes said.
The members also said that the bank will allow 10-year JGB yields to fluctuate with 0.5 percentage points of the target level.
Globally, the members agreed that the U.S. economy was strong, while China is showing signs of slowing. The European economies vary and are hampered by the Ukraine conflict.
At the meeting, the BoJ maintained its ultra-loose monetary policy with a negative interest rate of 0.1 percent on current accounts that financial institutions maintain at the central bank. The bank also voted to keep the cap on the 10-year Japanese government bonds yield at around zero percent.
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