Source: Dinar Daddy’s Tidbits
Investing.com – The Bank of Japan agreed that exports remained weak and a few of them were cautious about a sustainable rise in exports, the minutes of the bank’s Sept. 3-4 policy meeting released Friday showed.
Despite sluggish exports and factory output, the nine-member board still believed that the positive domestic cycle from income to spending was in place in both the household and corporate sectors, and that Japan’s economy was likely to “continue its moderate recovery trend,” overcoming the drag from the April sales tax hike.
However, one member questioned whether the 2% sustained inflation target by 2015 was attainable and other board members suggested to more closely monitor inflation expectations.
Data released before the September meeting showed that industrial production rose only 0.2% on month as the sales tax hike continued to dampen domestic demand and overseas demand remained generally sluggish.
The BoJ board decided by a unanimous vote to leave the bank’s policy target unchanged, as expected.