BOJ makes decision on JGB purchases by 8-1 vote.BOJ Board Member Nakamura dissented to decision on JGB purchases.BOJ’s Nakamura dissented to decision on JGB purchases, saying bank should decide to reduce it after reassessing developments in economic activity and prices in July 2024 Outlook Report.Decided to trim bond buying to allow long-term interest rates to move more freely.Will decide on specific bond buying reduction plan for the next 1-2 years at next policy meeting.BOJ: Uncertainties surrounding economic, financial developments at home remain high.BOJ: Japan’s economy has recovered moderately, although some weakness has been seen.BOJ: Inflation expectations have risen moderately.BOJ: Financial conditions have been accommodative.BOJ: Private consumption has been resilient.BOJ: Private consumption has been resilient although the impact of price rises has remained and auto sales have continued to be pushed down.BOJ’s Nakamura was in favor of the idea of reducing BOJ’s purchase amount of JGBs.BOJ: Will hold a meeting with bond market participants on today’s policy decision.BOJ: Decided to trim bond buying to allow long-term interest rates to move more freely.BOJ: Will decide on a specific bond buying reduction plan for the next 1-2 years at the next policy meeting.BOJ: Necessary to pay due attention to developments in financial and forex markets.BOJ: Underlying CPI inflation expected to rise gradually.BOJ: Industrial output has been more or less flat as a trend.BOJ: Industrial output continues to be pushed down recently by suspension of production and shipment at some automakers.
This article was written by Arno V Venter at www.forexlive.com.
