- Retains plan for 60-70tln yen annual rise in monetary base
- BOJ says Japan economy has continued to recover moderately, and is expected to continue moderate recovery trend
- Effects of sales-tax rise expected to wane gradually
- Housing investment has continued to fall after tax hike
- Production has recently shown some weakness, production has continued to rise moderately as trend
- Core CPI likely around +1.25% y/y for some time
- Core CPI forecast excludes effects of sales-tax increase
- Will watch risks, adjust policy as appropriate
- Will continue easing until reach stable 2% inflation
- Monetary easing has been exerting intended effects
- Inflation expectations appear to be rising on the whole
- BOJ board member Kiuchi proposed easing as intensive measure for 2 years
- Kiuchi proposed boj aim to reach 2% in mid to long term
- Kiuchi’s proposal defeated by 8-1 vote
- Capex has increased moderately
- Private consumption has remained resilient