Asian stocks ended the week little changed as the Bank of Japan (BOJ) released its meeting minutes.
Minutes of Japan's January 21-22nd policy meeting released today revealed nine board members said aggressive monetary easing does not need to end strictly in two years from April 2013.
The BOJ has vowed to bolster inflation to a stable 2% in "about two years" from last April through cash injections into financial markets and purchases of Japanese government bonds.
"As for the time frame for continuing quantitative and qualitative monetary easing, many members expressed the recognition that it was necessary for the BOJ to provide a clear explanation that it did not strictly set this to end in two years," the minutes said.
A Reuters poll of economists showed the Bank is expected to ease policy further by this summer to help boost the economy and pull it out of a 15-year deflation.
Survey respondents were also cynical over whether the central bank will achieve its 2% inflation target in the year from April 2015.
Japan's gross domestic product grew at an annual 1.0% rate in the fourth quarter, well below the median forecast of 2.8%, adding to criticism that Prime Minster Shinzo Abe's strategy to spur the economy is losing momentum.
Japan's Nikkei 225 surged 2.88% as the yen fell against the dollar to support exporters.
Toyota, Honda Motor Co. and Nikon Corp. edged higher, supported by the weaker yen.
Hong Kong's Hang Seng index rose 0.78% while the Shanhai Composite dropped 1.17%.
Samsung Electronics Co., gained in Seoul ahead of its unveiling of a high-end Galaxy smartphone next week.
Minutes of Japan's January 21-22nd policy meeting released today revealed nine board members said aggressive monetary easing does not need to end strictly in two years from April 2013.
The BOJ has vowed to bolster inflation to a stable 2% in "about two years" from last April through cash injections into financial markets and purchases of Japanese government bonds.
"As for the time frame for continuing quantitative and qualitative monetary easing, many members expressed the recognition that it was necessary for the BOJ to provide a clear explanation that it did not strictly set this to end in two years," the minutes said.
A Reuters poll of economists showed the Bank is expected to ease policy further by this summer to help boost the economy and pull it out of a 15-year deflation.
Survey respondents were also cynical over whether the central bank will achieve its 2% inflation target in the year from April 2015.
Japan's gross domestic product grew at an annual 1.0% rate in the fourth quarter, well below the median forecast of 2.8%, adding to criticism that Prime Minster Shinzo Abe's strategy to spur the economy is losing momentum.
Japan's Nikkei 225 surged 2.88% as the yen fell against the dollar to support exporters.
Toyota, Honda Motor Co. and Nikon Corp. edged higher, supported by the weaker yen.
Hong Kong's Hang Seng index rose 0.78% while the Shanhai Composite dropped 1.17%.
Samsung Electronics Co., gained in Seoul ahead of its unveiling of a high-end Galaxy smartphone next week.
Source LiveCharts
