The BOJ’s Kuroda said that the risk of lower prices are larger

The bank of Japan governor Kuroda’s presser underway as at 31 Oct

  • Japan’s economy expanding moderately
  • no change to the strong position of the monetary easing to hit 2% price target as soon as possible

Yep good luck with that one yet

  • member of the board of directors Kataoka voted against the decision, saying the possibility of low inflation to accelerate towards 2%
  • Prime minister shinzo Abe has not renounced the primary budget surplus target
  • wait for the government to continue to take measures with a view to the exercise of the discipline
  • The BOJ will continue ETF purchases, if applicable, according to the directive on the procurement of goods
  • do not buy the Etf with specific stock prices to the spirit
  • an upward pressure on wages in constant increase
  • discuss the exit strategy would send a bad message to the markets
  • no need to change current yield curve of control that the prices are far from the 2% target.

USDJPY 113.07 properly discouraged by the lack of substance in the remarks.
We’ll see if anything comes of the Q&A

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