BOJ Leaves Policy Unchanged
Bank of Japan maintained its unprecedented monetary easing. Signs of strength in the economy and price gains point to progress in its effort to end 15 years of deflation! The end is is near ? Or is it ?
The BOJ will expand the monetary base at an annual pace of 60 trillion yen ($602 billion) to 70 trillion yen, it said in a statement in Tokyo today. That’s nearly the same as the GDP of Turkey !
-Consumer prices climbed the most in five years in July
BOJ Governor Haruhiko Kuroda indicated after last month’s policy board meeting that a delay in raising the sales tax could undermine confidence in Japan’s fiscal sustainability and lead to higher government bond yields.
The central bank committed in April to double the monetary base through purchases of government bonds and other financial assets, aiming to generate 2 percent inflation within about two years.
Now lets see if we win the Olympics .
Tony Evans - Tokyo 