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Summary of Opinions at the Monetary Policy Meeting on September 21 and 22, 2023
Opinions on Economic and Financial Developments Economic Developments: • Japan's economy has recovered moderately and is likely to continue to do so. However, there remain extremely high uncertainties surrounding economic activity and prices. • Japan's economy has continued to recover moderately on the whole; although firms' business fixed investment has been somewhat weak due to subdued external demand, private consumption has continued on an expanding trend, albeit moderately. • The domestic economy has been resilient on the whole. Although production activity has been more or less flat since orders from ... (full story)
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<JPY=>:
— Cable FX Macro (@cablefxmacro) October 1, 2023*ONE BOJ MEMBER: NEED TO CONTINUE WITH EASING PATIENTLY
*BOJ: JAPANESE COS SEE 2.5% Y/Y INFLATION IN 1 YEAR
️*ONE MEMBER: NO NEED FOR ADDITIONAL YCC TWEAK WITH YIELDS STABLE
*BOJ: JAPANESE COS SEE 2.1% Y/Y INFLATION IN 5 YEARS TIME
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— Cable FX Macro (@cablefxmacro) October 1, 2023️*ONE MEMBER: END OF NEG. RATE, YCC MUST BE LINKED WITH CPI GOAL
*ONE MEMBER: EASING WOULD CONTINUE EVEN WITH NEGATIVE RATE END
*ONE MEMBER: ASSET BUYING MUST BE ALSO CONSIDERED WHEN EXITING
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BOJ SUMMARY: ONE MEMBER SAID THERE IS STILL SOME DISTANCE BUT JAPAN NEARING ACHIEVEMENT OF PRICE TARGET, SO LATTER HALF OF CURRENT FISCAL YEAR WILL BE CRUCIAL PHASE IN DETERMINING NEXT YEAR'S PRICE OUTLOOK, OTHER FACTORS
— First Squawk (@FirstSquawk) October 1, 2023