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BoJ keeps policy steady despite weaker exports - BNP Paribas

FXStreet (Łódź) - Raymond Van Der Putten, economist at BNP Paribas, comments on BoJ's decision to keep monetary policy unchanged in August, despite indications of a slowdown in exports and in industrial output.

Key quotes

"The statement issued after the decision was less upbeat than the previous one released in July."

"On the other hand, business conditions have not seriously weakened after the tax hike in April."

"We expect that the BoJ will maintain its current monetary policy unchanged for a considerable time."

"The Bank has not much to gain from stepping up its purchases."

"Inflation is inching higher and could hit the 2% inflation target in early 2016."

"A more aggressive monetary stance would obscure the Bank’s objectives. It would also go against the grain as the Federal Reserve and the Bank of England are both in the process of exiting their very loose policies."

"However, for the BoJ, an exit scenario is still a remote perspective."

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