The Bank of Japan will conduct money market operations so that the monetary basewill increase at an annual pace of about 60-70 trillion yen. Japan's economy is expected to recover moderately on the back of the resilience in domestic demand and the pick-up in overseas economies. The year on year rate ofchange in the CPI is likely to turn positive. Regarding risks, there remains ahigh degree of uncertainty concerning Japan's economy, including the prospectsfor the European debt problem, developments in the emerging and commodityexporting economies, and the pace of recovery in the U.S. economy. The Bankwill continue with quantitative and qualitative monetary easing, aiming toachieve the price stability target of 2 percent, as long as it is necessary formaintaining that target in a stable manner. It will examine both upside anddownside risks to economic activity and prices, and make adjustments asappropriate.
Source by Commodity Insights
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