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Nikkei 225 Futures Pare Gains After BOJ Policy Statement

Japanese stock futures trimmed gains after the Bank of Japan issued a statement that it kept monetary policy unchanged.

Nikkei 225 Stock Average futures traded at 15,330 in Singapore as of 12:16 p.m. in Tokyo. Before the central bank announcement, the Nikkei 225 climbed 1.6 percent to 15,322.46 at the trading break in Tokyo. The broader Topix index added 0.9 percent to 1,243.87.

All economists in a Bloomberg survey forecast that at today’s meeting the bank would keep its pledge to expand the monetary base by 60-70 trillion yen ($600-700 billion) a year.

Nineteen said the BOJ would add stimulus in the second quarter of next year after the sales-tax bump starting in April, with seven saying it would ease policy in the July-September period.

The central bank will at some stage alter its target of 2 percent inflation in two years as unprecedented bond-buying proves insufficient to achieve the goal, economists forecast in the survey.

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