Thursday, 23 January 2014

BoJ leaves monetary policy unchanged

The Bank of Japan left its monetary policy unchanged on Wednesday. BoJ Governor Haruhiko Kuroda told reporters after its monetary policy meeting that “prices have been moving in line with our forecast”.

Meanwhile, the Japanese economy is continuing to recover. A report on Wednesday showed that its leading economic index increased for the third successive month in November, rising to 111.1, higher than a preliminary estimate of 110.8, from 109.8 in October.

The coincident economic index rose to 110.7 in November, also better than the preliminary estimate of 110.5, from 110.4 in the prior month.

The UK economy is also growing, pushing the unemployment rate down to 7.1 percent in the three months to November, just above the 7 percent threshold for the Bank of England to consider interest rate hikes.

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