Economic Buzz: BoJ Lifts Inflation Forecast Citing Rise In Commodity Prices

24 Mar 2022 , 01:01 PM

The Bank of Japan monetary policy board voted 8-1 to maintain its monetary policy stimulus unchanged at -0.1 percent on current accounts that financial institutions maintain at the central bank. It also lifted its inflation forecast for the next fiscal year, citing a rise in commodity prices, minutes from the banks January 17-18 meeting revealed on Thursday. The bank also said it will continue to purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent. Members of the Bank of Japans Monetary Policy Board said that Japans economic recovery is continuing at a satisfactory pace in the wake of the COVID-19 pandemic.

Powered by Commodity Insights