Bank of Japan increases economic forecasts and keeps policy stable

27.04.2017 / 09:13

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The Bank of Japan raised its economic forecasts at its policy meeting outcome on Thursday, but it kept policy steady, as was widely expected.

The BOJ raised its economic assessment. It increased its real gross domestic product (GDP) forecast for the 2017-18 fiscal year to 1.6 percent from the 1.5 percent projected in January. But it lowered its core consumer price index (CPI) growth forecast to 1.4 percent from 1.5 percent in the same period.

The central bank has been pursuing a yield-curve control policy, introduced at its late-September meeting.

The BOJ had set its target yield for the benchmark 10-year Japanese government bond at around zero percent, and it has been willing to intervene to keep the benchmark yield in line with its target.

Japan's economy grew 1.2 percent annualized in the October-to-December quarter, according to revised data released last month, but that was still below the 1.6 percent

Source: Bloomberg

Junior Trader Ivan Ivanov

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Bank of Japan increases economic forecasts and keeps policy stable

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