Currency Analyst since 2010

Bank of Japan: press conference

The Bank of Japan left policy unchanged at today’s meeting. Here are the main comments from the BOJ’s Governor Kuroda:

-          It’s too early to discuss exit strategy from the current stimulus policy.

-          The central bank will act if inflation deviates too much from the target level.

-          For now prices (core CPI: +0.4%) move in line with the BOJ forecast.

-          Japanese economy can recover even if exports don’t rise sharply.

-          Risks connected with global economy slightly decreased.

-          Sales tax hike won’t hurt Japanese economic growth much and create deflation.

Kuroda gave his usual rhetoric, but sounded rather optimistic. USD/JPY rose to 96.40.

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