Embargoed presser now coming out

  • correction in excessive yen strength has been positive for Japan’s economy
  • no change to view that Japan heading steadily to 2% inflation target despite fluctuations from sales tax hike
  • BOJ’s exiting two loan schemes have played key roles. undecided still on extending deadlines
  • BOJ monetary policy not aimed a FX markets
  • consumer inflation to to slightly exceed 1% by year-end 2013
  • doesn’t expect April sales tax hike to cause big problems
  • will carefully watch impact of Fed policy on markets and global/Japanese economies
  • expects exports and capex to gradually rise ahead as global economy recovers
  • doesn’t expect big change in pace of monthly JGB purchases from next fiscal year

That’s it !

Nothing new on first look

USDJPY still 104.43