Stockmarket tanking!, page-76

No taper yet. BOJ minutes indicate soft consumption, difficulties getting inflation target and the usual will " maintain QQE as long as necesary". This is going to go on for years.



FXStreet (Bali) - The Minutes of the Bank of Japan from the April 7 - 8 monetary policy meeting have been published.

Official report

"Japan's economy has continued its moderate recovery trend. Overseas economies -- mainly advanced economies -- have been recovering, albeit with a lackluster performance still seen in part."

"With regard to the outlook, Japan's economy is expected to continue its moderate recovery trend. The year-on-year rate of increase in the CPI is likely to be about 0 percent for the time being, due to the effects of the decline in energy prices."

"Risks to the outlook include developments in the emerging and commodity-exporting economies, the prospects regarding the debt problem and the risk of low inflation rates being protracted in Europe, and the pace of recovery in the U.S. economy."

"Quantitative and qualitative monetary easing (QQE) has been exerting its intended effects, and the Bank will continue with QQE, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner."

Main headlines - Reuters

"Some members pointed out that firms were holding a cautious view regarding overseas demand."

"A few members said if FX rates moved stably and if such developments were reflected in firms' medium- to long-term business plans, this would boost capex."