Tag Archives: Bank of Japan policy

The first estimate for GDP in the second quarter surprised on the upside, pushing us to revise our full-year forecast. But we still believe the Bank of Japan will stick to current monetary policy.The first estimate of Japan’s Q2 GDP showed growth of 1.0% quarter over quarter (q-o-q) in real terms, or 4.0% annualised, beating the consensus estimates (1.6% annualised) by a wide margin. We have therefore decided to revise up our 2017 GDP forecast for Japan to 1.9% from 1.3%.Unlike previous...

The BoJ is keeping its policies unchanged, and there is no change in our scenario regarding its future policy moves.In July’s monetary policy meeting, the Bank of Japan (BoJ) decided to keep its monetary easing programme unchanged, maintaining its qualitative and quantitative easing (QQE) with yield-curve control (YCC). In addition, the BoJ cut its inflation estimates for the current and next fiscal years, and revised its expectation for hitting its 2% target to one year later than the...

While we are revising up our forecast for GDP growth this year, we expect the Bank of Japan will continue with its qualitative and quantitative easing policies.Japan’s GDP grew by 1.6% year-over-year in Q1 in real terms. On a quarter-over-quarter basis, the economy expanded by 2.2% annualised, the highest growth rate since Q1 2016. In light of the stronger-than-expected Q1 figure, we have decided to revise up our 2017 GDP growth forecast for Japan to 1.3% from 0.8% previously.Exports...