US GDP missed expectations

*  US GDP Data (Q1 A):

• GDP – Annualized Q/Q +0.2% versus +1.0% expected, previous +2.2%
• Personal Consumption +1.9% versus +1.7% expected, previous +4.4%
• GDP Price Index -0.1% versus +0.5% expected, previous +0.1%
• Core PCE Q/Q +0.9% versus +1.0% expected, previous +1.1%+5.1% expected, previous +12.0% revised +12.5%

*  US EIA Weekly Oil Inventories:

• Crude +1.91 Mln versus +3.30 Mln expected, previous +5.32 Mln
• Cushing -0.51 Mln versus +0.40 Mln expected, previous +0.74 Mln – First fall since November.
• US crude futures settle at $58.58 (+$1.52)

Central Bank Watch–Bank of Japan (BOJ)

BOJ retains plan for annual increase of 80t yen in monetary base at today’s meeting (April 30th, 2015)

*BOJ RETAINS PLAN FOR 80T YEN ANNUAL RISE IN MONETARY BASE vote 8 -1

*BOJ: KIUCHI PROPOSED ANNUAL 45T YEN INCREASE IN MONETARY BASE

*BOJ: KIUCHI’S PROPOSAL VOTED DOWN BY BOARD MAJORITY

USD/JPY Extends Decline After BOJ Policy Decision

USD/JPY falls 0.3% to 118.63, while Japan’s 10-yr bond futures down 0.36 at 147.83.

TOKYO—The Bank of Japan left its policy unchanged Thursday, sticking to the view that Japan is still on track to achieve 2% inflation despite stagnating price growth and lingering speculation that further action is needed.

*BOJ SEES FY2015 CORE CPI AT 0.8%; JAN. FORECAST WAS +1.0%

*BANK OF JAPAN CUTS FY2015 CPI, GDP FORECASTS

*BOJ: CPI IS LIKELY TO BE ABOUT 0% FOR TIME BEING

The central bank decided to keep its annual asset purchases at ¥80 trillion ($672.2 billion), ignoring a call from an influential lawmaker urging the bank to increase its purchases to ¥90 trillion.

Kozo Yamamoto, known as a staunch proponent of large-scale easing and a close ally of Prime Minister Shinzo Abe in the ruling Liberal Democratic Party, said last week that the BOJ needed to ease at the meeting, as the economy is still struggling to shake off a higher tax burden that took effect a year ago.