Bank of Japan governor Kuroda’s presser underway 31 Oct
- Japan’s economy expanding moderately
- no change to stance of strong monetary easing to hit 2% price target asap
Yep good luck with that one still
- board member Kataoka voted against decision saying possibility low for inflation to accelerate towards 2%
- PM Abe hasn’t given up on primary budget surplus target
- expect govt to continue to take steps toward fiscal discipline
- BOJ will continue ETF purchases as appropriate based on guideline on asset purchases
- not buying ETFs with specific stock prices in mind
- upward pressure on wages steadily rising
- debating exit strategy would send wrong message to markets
- no need to change current yield curve control as prices are distant from 2% target.
USDJPY 113.07 suitably unfazed by the lack of substance in the remarks.
Let’s see if anything comes of the Q&A