BOJ Summary of Opinions: Chance of inflation hitting 2% target next year is low
|The Bank of Japan (BOJ) Summar of Opinions at the monetary policy meeting on September 20/21 shows the policy makers believe the odds of inflation hitting the 2% target next year are low.
Key points
Needs to ease policy further to prop up demand given the expected impact on the economy from a scheduled sales tax hike (makes Yen a sitting duck in rising global rate environment).
Careful attention needs to be paid to whether the increasing trend in China's producer price index [PPI] suggests that the worldwide disinflationary trend will change.
No logical reason why North Korea tensions should lead to the appreciation of the Yen.
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