FXStreet (Bali) - BOJ left its policy unchanged as widely expected by the market, with some commentators having recently argued for a case in favour of further easing in October.
Key headlines
Keeps monetary policy steady, pledges to increase monetary base at annual pace of 80 trln yen
Policy decision was made by 8-1 vote
BOJ cuts assessment of overseas economies
Cuts assessment of exports
Cuts assessment on output
Says Japan economy continues to recover moderately but exports, output affected by slowdown in emerging economies
Says overseas economies continue to grow at moderate pace, mainly for advanced economies, despite slowdown in emerging economies
Says exports, output have recently been more or less flat
BOJ Board member kiuchi votes against policy decision
Kiuchi proposed tapering annual jgb purchases to 45 trln yen,
which was turned down by majority vote
Kiuchi proposed keeping asset buying, zero rates for as long as needed under flexible price target, which was turned down by 8-1 vote
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