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14 Jun 2013
BoJ Minutes: economy picking up
FXstreet.com (Barcelona) - At the Monetary Policy Meeting held on may 22 the Bank of Japan was unanimous on its vote to maintain the monetary base at an annual pace of about 60-70 trillion yen.
The Minutes just released also highlights that the Japanese economy is picking up. Between, one member said the timeline might be unsettling the bond market, causing the unusual volatility. Another comment from a dissenter at the meeting referred to the importance of keeping fiscal discipline to ensure bond stability.
From the BoJ on growth: "Exports have stopped decreasing as overseas economies have been moving out of the deceleration phase that had continued since last year and are gradually heading toward a pick-up. Business fixed investment continues to show resilience in non-manufacturing and appears to have stopped weakening on the whole. Public investment has continued to increase, and housing investment has generally been picking up. Private consumption has seen increased resilience..."
With regards to China, BoJ said the country was growing at a weaker-than-expected pace. With regards to CPI expectations, some indicators suggest a rise in inflation expectations, the BoJ said.
The Minutes just released also highlights that the Japanese economy is picking up. Between, one member said the timeline might be unsettling the bond market, causing the unusual volatility. Another comment from a dissenter at the meeting referred to the importance of keeping fiscal discipline to ensure bond stability.
From the BoJ on growth: "Exports have stopped decreasing as overseas economies have been moving out of the deceleration phase that had continued since last year and are gradually heading toward a pick-up. Business fixed investment continues to show resilience in non-manufacturing and appears to have stopped weakening on the whole. Public investment has continued to increase, and housing investment has generally been picking up. Private consumption has seen increased resilience..."
With regards to China, BoJ said the country was growing at a weaker-than-expected pace. With regards to CPI expectations, some indicators suggest a rise in inflation expectations, the BoJ said.