Here we go !

Comments from the embargoed press conference

  • BOJ will take policy response if overseas tail risk threaten Japan’s recovery
  • if US fiscal stand-off continues it could destabilize financial markets and worsen sentiment
  • will not comment on how BOJ would respond on US govt default
  • decision to raise sales tax was a very significant step in restoring trust in Japan’s finances
  • Japan making steady progress towards meeting BOJ’s 2% price goal
  • hopes US govt finds solution to fiscal stand-off asap
  • recent JGB yield drop due to BOJ asset buying
  • Tankan report clearly shows business sentiment is improving

Nothing new from Kuroda but an upbeat assessment of the domestic economy

Understandably will not be drawn into commenting on potential US fiscal fall-out

USDJPY still 97.10