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.