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Asturio Cantabrio
The Japanese central bank said in a statement that the target yield on ten-year government bonds is about zero, and the short-term interest rate on deposits held by commercial banks with the Central Bank remains at minus 0.1% annually.
Additionally, the Bank of Japan maintained the benchmark maximum yield on ten-year government bonds at 1% annually.
Analysts and economists anticipated no change in the policy at the January meeting as well.
As a result of a drop in oil prices, the Japanese central bank reduced its inflation prediction for fiscal 2024, which begins on April 1, to 2.4% from 2.8% anticipated in October. This forecast did not include the cost of fresh food. Prices are expected to climb by 1.8% in 2025 as opposed to the 1.7% previously expected.
It is still anticipated that core inflation would hover around 2.8% in the current fiscal year.
The Bank of Japan wants to sustainably raise inflation to the target of 2%.
source: asia.nikkei.com
Additionally, the Bank of Japan maintained the benchmark maximum yield on ten-year government bonds at 1% annually.
Analysts and economists anticipated no change in the policy at the January meeting as well.
As a result of a drop in oil prices, the Japanese central bank reduced its inflation prediction for fiscal 2024, which begins on April 1, to 2.4% from 2.8% anticipated in October. This forecast did not include the cost of fresh food. Prices are expected to climb by 1.8% in 2025 as opposed to the 1.7% previously expected.
It is still anticipated that core inflation would hover around 2.8% in the current fiscal year.
The Bank of Japan wants to sustainably raise inflation to the target of 2%.
source: asia.nikkei.com
