日本銀行は積極的な景気刺激策を実施し物価上昇率を2%の安定に持ち込む
El Banco de Japón vira hacia una política de estímulos agresiva de la mano de Abe
El organismo asume las tesis del nuevo primer ministro y fija el objetivo de inflación en el 2%
Mejora sus previsiones de crecimiento para este año
EFE Economía Tokio 22 ENE 2013 - 05:52 CET
The Bank of Japan turns to a policy of aggressive stimuli Abe's hand
The body handles the thesis of the new prime minister and the inflation target set at 2%
Improving its growth forecasts for this year
Economy EFE Tokyo 22 ENE 2013 - 05:52 CET
The Bank of Japan (BOJ) announced on Tuesday a shift to a monetary policy "aggressive" to achieve stable inflation of 2%, a goal that Prime Minister Shinzo Abe, seen as key to revitalizing the third world economy. Until now, the goal was set at 1%. The announcement comes just a week after the new government announced a stimulus plan billionaire economy.
The issuer Japanese took these decisions at its monthly meeting two days, held less than four weeks after Abe took office in Japan with a policy focused on revive its stagnant economy, trapped in a persistent deflation. In addition, the Government has advanced strong easing measures implemented to achieve "soon" this ambitious goal.
With interest rates virtually at 0 for more than two years in Japan, trapped in a decade of economic stagnation, the main tool BOJ stimulus is its asset purchase program. With it, injected new notes in the system and, in fact, came to be applied four times in 2012.
The decision encouraged shopping at the Tokyo Stock Exchange, but also raises concern
This method of purchase concluded in December 2013, and the Bank of Japan has announced that from January 2014 to acquire a system shall each month, without a deadline, assets of about 13 billion yen (about 110,000 million euros ), of which about 2 billion (16,900 euros) are government bonds.
This decision by the BOJ was not lost on the Tokyo Stock Exchange, although, according to local analysts, after the initial excitement of the park, local values fell as the overall conclusion of the meeting was within expected by investors. The measures concerning the purchase of the assets unanimously approved the nine board members of the BOJ's monetary policy, but not so with the inflation target, which is opposed by two of the directors, despite intense pressure on Abe recent weeks.
This did not prevent rejection minority of today's meeting set-out a document signed by widely expected, the BOJ and the Government of Japan in which they gather their commitment to fight deflation until a CPI increase of 2%. To this end the Japanese banking institute "pursue monetary easing" while the government "strongly promote measures to establish a sustainable fiscal structure in order to ensure the credibility of fiscal management."
moreThe government announced a stimulus plan billionaireAbe finance trusts to former Prime Minister Taro Aso
This is one of the great challenges of Japan, the industrialized country with the largest public debt in the world (more than double the GDP). Even so, the Executive plans to issue new bonds soon 5.2 trillion yen (44,000 million euros) to cover part of a comprehensive stimulus package designed by the Abe government to create 600,000 jobs and add 2 points to Japanese GDP.
In this sense, the BOJ today revised downward its forecast of 0.5 points of GDP growth for fiscal 2012, which ends in Japan March 31, and stood at 1%. However, for the year 2013 the Bank of Japan expects the Japanese economy to grow by 2.3% (well above the 1.6% it forecast last October), while confident that price deflation left behind and will increase this year by 0.4% shy.
The results of today's meeting reflect a change in direction, under the influence of the new government, the BOJ's monetary policy, whose governor, Masaaki Shirakawa, will end his term on April 8 and will be replaced by a candidate nominated by the Government and ratified by the Chambers.
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