Monday, January 24, 2011

Bank of Japan Maintains Montetary Policy Stance

The Bank of Japan (BOJ) held it's monetary policy interest rate at a range of between zero and 0.1 percent, while also maintaining the size of its securities purchase program at 5 trillion yen ($60 billion), with a unanimous vote. The BOJ also noted in its monetary policy announcement that it now forecasts economic growth of 3.3% for the 2011 fiscal year, versus a previous forecast in October of 2.1%. Japan recorded a headline inflation figure of 0.10% in November; the BOJ is forecasting deflation of -0.3% in 2011 and inflation of 0.3% in 2012.


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