Markets overnight
At the Bank of Japan (BoJ) meeting that ended early this morning the BoJ kept the pledge to double the monetary base in two years. Focus now turns to the revised macroeconomic forecast that BoJ will publish later this morning. In light of BoJ’s aggressive commitment to the 2% inflation target it will be interesting to see if BoJ revises its longer-term inflation forecast higher. Currently BoJ’s inflation forecast for fiscal 2014 excluding the impact from a consumption tax hike in April 2014 is 0.9%.
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Danske Bank