- virtuous cyle taking place in Japan's economy
And we're off and running with Mr K once again.. Definitely something lost in translation on that "virtuous" he keeps coming out with
- inflation expectations are rising over long-term view
- CPI likely to reach 2% target around FY2015
- exports will continue moderate recovery due to global economy and weak yen
- Japanese economy to continue moderate recovery mode
- will continue with QQE as long as necessary to achieve 2% price stability
- will examine both upside and downside risks to economy and prices and adjust policy as required
Nothing of note so far
USDJPY 119.16
- doesn't think additonal QE in Oct had negative impact
- inflation expectations still intact due to expanded easing
- as long as ccys move in a stable manner and reflect fundamentals it would not be negative for economy
