The monthly BOJ minutes yesterday revealed the vote to increase the stimulus program was extremely tight but the conviction to maintain a monetary policy easing bias was as strong as ever and Governor Kuroda expects the Japanese economy to reach its inflation target of 2% as early as the second quarter of 2015.
The BOJ Governor did mention in a speech yesterday that he had concerns that the Yen had weakened too quickly and this is why we saw the Yen rise a few ticks through the Asian trading session. Once European trading started and stock markets rallied the Yen was again sold.
The full report is featured in Today's LTG GoldRock Insider Report. Go to www.ltggoldrock.com for more information.
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