BOJ monetary policy meeting announcement

  • Keeps monetary policy steady, pledges to increase monetary base at annual pace of 80 trln yen
  • Decision was made by 8-1 vote (Kiuchi votes against policy decision)
  • Keeps assessment of Japan's economy unchanged
  • BOJ sees economy as continuing to recover moderately
  • Some data show weak developments in inflation expectations

Headlines on Bloomberg and Reuters

Nothing to surprise, no change was a near unanimous expectation

That bolded headline about the only item of note. I rate it at half an eyebrow raise.

Note also the "economy as continuing to recover moderately". I looked up 'recession' in the dictionary ... it didn't say anything like that :-D . (Japan is back in technical recession)

USD/JPY had a bit of a wiggle, but only a few points of volatility. Its near session lows as I update:

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Next from the BOJ ... press conference from Governor Kuroda, which will start at 0630GMT

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The next BOJ mon pol meeting is December 17 and 18 (ladies and gentlemen, please make Adam very welcome for that when the time comes ;-) )