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Forex Flash: Aggressive BoJ monetary policy likely to boost real economy - Nomura

FXstreet.com (Barcelona) - Nomura economists have raised their forecasts on the back of a weak Yen and strong shares, believing that the aggressive BoJ monetary policy is likely to boost real economy.

They comment that the have revised their economic outlooks for FY12-14 and compared with their previous revisions as of 8th March 2013, they have also raised their projection for real GDP growth in FY13 by 0.3ppt, to 2.4%. They see that this represents the strongest economic growth since FY96, excluding FY10, when the rebound from the Lehman shock boosted growth figures. They write, “Looking further ahead, we have raised our projection for real GDP growth in FY14 by 0.4ppt, and now forecast an increase of 1.4% (we also revised up our forecast for CY14 by 0.4ppt).”

Euro keeping the 1.30/1.31 range

The shared currency is advancing for the second consecutive week so far, albeit giving away earlier gains on Friday as risk aversion and a logic profit taking sentiment are prevailing amongst investors. The generally softer...
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