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BOJ begins 2-day meeting, mulls 2% inflation goal


09:09, January 22, 2013

Japan’s central bank has begun a crucial two-day policy meeting. The market is expecting a concrete decision on a two percent inflation goal and further monetary easing plans.

Japanese media say the Bank of Japan is widely expected to write the two percent inflation target in a joint statement with the government, which could be released at the end of the policy meeting on Tuesday. Kyodo News Agency notes, the nine-member Policy Board of the BOJ may also discuss the possibility of taking measures similar to U.S. Fed Reserve’s Quantitative Easing.

These include buying government bonds and other relatively safe financial assets without setting a deadline. Earlier in January, Prime Minister Shinzo Abe’s newly formed cabinet came up with a stimulus package, using 10.3 trillion yen of central government funds to add around two percentage points to Japan’s real GDP growth, and to create about 600 thousand jobs.

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