Likely long periods of No News ahead for GJT so thought I'd post some excerpts from a much larger Bloomberg article - Key point is Bank of Japan is targeting inflation of 1%. And is of the opinion that the ecocomy is picking up!
"March 17 (Bloomberg) -- The Bank of Japan doubled a bank- loan program aimed at shoring up liquidity in the deflation- plagued economy, a boost that offsets the impact of separate credit measures expiring this month.
Todays decision responds to price declines that are deepening even as the economy sustains a recovery from its worst postwar recession. Prime Minister Yukio Hatoyamas administration, restrained from adding to fiscal stimulus by a record debt load, has been pushing the central bank to do more to bolster growth.
Picking Up
The central bank left unchanged its assessment that the economy is picking up.
Shirakawa may indicate later today the bank is ready to do more as needed because price are still falling even as the economy picks up momentum.
Stamp Out Deflation
Finance Minister Naoto Kan said this month that he hopes to stamp out deflation as soon as this year, and he wants an inflation target of about 1 percent or higher. BOJ board members next month will update their growth and price forecasts in a semi-annual outlook and check quarterly household and business confidence surveys.
GJT Price at posting:
$1.80 Sentiment: LT Buy Disclosure: Held
