BY AGENCE FRANCE-PRESSE
POSTED ON 08/08/2013 12:02 PM | UPDATED 08/08/2013 12:10 PM
TOKYO, Japan – The Bank of Japan (BoJ) on Thursday, August 8 left its vast monetary easing program unchanged, as it issued an upbeat assessment of Tokyo’s efforts to counter growth-sapping deflation.
In a widely expected move, the central bank said its board voted unanimously to stand pat after wrapping up a two-day policy meeting, as investors keep a close eye on the US Federal Reserve amid growing speculation it would soon start tapering its huge stimulus program.
The BoJ, which unveiled its own gigantic bond-buying scheme in April, said the outlook for the world’s third-biggest economy was looking brighter, while early signs of rising prices were good news for its efforts to hit a 2% inflation target in as many years.
Many analysts have heaped doubt on the BoJ’s ambitious timeline given that Japan has been struggling with deflation for more than 15 years. The inflation target is a key part of an economy-boosting plan launched by Prime Minister Shinzo Abe, dubbed “Abenomics”.
“Japan’s economy is starting to recover moderately,” the BoJ said Thursday, pointing to better times ahead for key export markets.
“Overseas economies as a whole are gradually heading toward a pick-up, although a lacklustre performance is partly seen… Inflation expectations appear to be rising as a whole.” – Rappler.com
PHILIPPINE INFLATION RATE
The inflation rate in Philippines was recorded at 2:50 percent in July of 2013. Inflation Rate in Philippines is reported by the The National Statistics Office (NSO). Philippines Inflation Rate averaged 8.98 Percent fron 1958 until 2013, reaching an all time high of 62.80 Percent in September of 1984 and a record low of -2.10 Percent in January of 1959. In Philippines, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcohol beveragesd, tobacco, furnishing, household equipment, restaurants and other goods and services account chart, statistics, economic calendar and news. 2013-08-07
Philippines Inflation Rate July 2013
Inflation slows down in March
Posted at 04/05/2013 11:58 AM | Updated as of 04/05/2013 11:59 AM
MANILA — The country’s inflation rate slowed to 3.2 percent in March, below market forecasts.
It’s also lower than the 3.4 percent recorded in February as oil, food and utility costs declined.
Analysts noted the March inflation is within the Bangko Sentral ng Pilipinas’ forecast range of 2.8-3.7 percent, reinforcing beliefs the central bank will leave interest rates unchanged at a record low of 3.5 percent at its next meeting on April 25.
Mornings@ANC, April 5, 2013