© Reuters. Outcomes of Bank of Japan Monetary Policy Committee Meeting – November 2023Arabictrader.com – The results of the Bank of Japan meeting for the current month of November, published today; Those points:
- Members of the Bank of Japan agreed that achieving the goal of sustained and stable price inflation, with increases, has not yet been achieved and is not yet in sight.
- Achieving the Bank of Japan’s 2% inflation target is not expected under current circumstances, one member said.
- Since long-term interest rates are relatively stable, most policymakers have indicated that there is no need to take additional steps in yield curve control operations.
- Among the risks to Japan’s economy and prices are economic activity and prices abroad, developments in commodity prices, and the wage and pricing behavior of domestic firms.
- Compared to those seen in the first half of 2023, several liquidity indicators in Japan’s government markets are generally deteriorating.
It is noteworthy that the Bank of Japan had decided during the Monetary Policy Committee meeting earlier this month to change the permissible limits for the policy to limit the 10-year Treasury yield curve (YCC) to a maximum of 1.0%. A minimum of 1.0%, while Bank of Japan interest rates remain unchanged at -0.10%.
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