The Bank of Japan acknowledges that
the reaching the inflation target until 2015 is a fairly ambitious goal.
Still, the process is underway and starts brining fruit, the central
bank assumes.
In particular, the bank expects the inflation target to be reached
either in late 2014 or in early 2015, Mr. Kuroda stated during the
EUROPLACE forum. He also confirmed the rumor that the BOJ would make
changes to its monetary policy if needed. At the same time, he
underlined that the quantitative easing started in April 2013 has had a
positive impact on the Japanese economy and financial markets ever
since.
At the same time, during the November
meeting, the Bank of Japan left its monetary policy unchanged, thereby
leaving its economic estimation and forecast at a relatively high level.
The bottom line is that the central bank’s major goal is to get rid of
the deflation that has been affecting the national economy over the
last 15 years.
Forex
According to Masterforex-V Academy,
the Japanese Yen is still weakening against the US Dollar. The experts
report that USDJPY is forming an upswing represented by wave А of level
Weekly.
A further rally will probably encounter resistance around 102.52 and 103.73.
The current bullish move will be completed as soon as the price
overcomes the bottom of the MF sloping channel and consolidates below 97.60. (as shown below).
