The Bank of Japan (BoJ) published the Summary of Views from its October monetary policy meeting on October 30-31, with key findings noted below.
Key quotes
BoJ member suggests easing adjustment if outlook achieved.
BoJ member emphasizes the importance of monitoring the global economy, particularly the United States.
BoJ member declared that there is no change in position, he will adjust monetary support if the forecasts are met.
BoJ member maintains position, will adjust monetary support if economic and price forecasts are met.
Member urges vigilance on global economic outlook and market trends.
Member points out that the BoJ does not need to indicate the ability to scrutinize risks.
Risk of hard landing in US decreasing, uncertain if markets are stabilizing.
BoJ member calls for clear communication on future rate hikes if forecasts are met.
BoJ member advises caution and taking time to raise rates.
The Central Bank does not need to point out that they can “afford to take time” to examine risks.
BoJ member suggests possible rate hikes in near future, citing lack of need for massive monetary support in Japan and need to monitor US economic developments.
BoJ member warns of possible increase in market volatility due to US election result
BoJ member predicts clearer trend in consumption growth with higher real wages.
Monetary support will be adjusted if economic and price forecasts are met.
BoJ member expresses concern about possible exchange rate effects on prices.
BoJ member predicts household acceptance of a stronger Yen.
BoJ member warns of delayed normalization if markets shake.
Market reaction
Following the BoJ Opinion Summary, the USD/JPY pair is gaining 0.28% on the day to trade at 152.93, at the time of writing.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
