Bank of Japan following its meeting on January 25-26 will announce new measures to stimulate the economy, which should allow to overcome deflation in the country, economists predict.
However, as reports the agency Bloomberg, the Japanese central bank intends to keep the base interest rate at the current level of 0,1%.
Government of Japan is putting pressure on the Central Bank, prompting him to extend the range of anti-deflationary measures. In December, the board of the central bank announced that overcoming deflation is an extremely complex and high priority, adding he would not tolerate a zero or negative price movements.
Bank of Japan pledged to keep interest rates low, but has not been disclosed other planned measures to combat deflation.
latest economic statistic data from Japan show is not too rosy picture: manufacturing activity rose in December, but the results of surveys of consumers, businessmen and economists were negative. The decrease in orders for Industry equipment in November suggests that capital investment will remain low until the end of 2010.
strengthening of the yen against the euro and the dollar also does not add optimism regarding the Japanese economy.
Deflation in Japan to last at least until the end of the fiscal year ending in March 2012, forecasts the central bank. Because of deflation in the third finkvartale (October-December 2009) Japan”s GDP has been minimal since 1991.
According to analysts, a number of measures being prepared by the Bank of Japan, is expanding the program of emergency lending to banks by increasing its volume and extend the maturities of loans to first 6 months, and then to goda.Vpolne is also likely that CB increase the volume of purchase state bonds from the current 1.8 trillion yen ($ 20 billion) a month.
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