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BoJ maintains overnight rates at 0.1%

2024-12-30FOREXLIVEFOREXLIVE
No surprise on rates but no change to purchases
  • 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.

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