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Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - The minutes from Japan's Monetary Policy Meeting held on Sept 5 offered no further insights into the future policy action by the bank, with the Bank setting the following guidelines for money market operations.

Statement on Monetary Policy

- The Bank of Japan will conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen.

- With regard to the asset purchases, the Bank will continue with the same guidelines on (JGBs), (ETFs) and corporate bonds.

- Japan is expected to continue moderate recovery

- With regard to the outlook, Japan's economy is expected to continue a moderate recovery. The year-on-year rate of increase in the CPI is likely to rise gradually.

- Capex starting to pick up as profits improve

- One member was concerned about weak recovery in exports and low factory activity

- Many members agreed QE has eased pressure on rising JGB yields

- The Bank will continue with quantitative and qualitative monetary easing, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner. It will examine both upside and downside risks to economic activity and prices, and make adjustments as appropriate
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