- no adj needed as economy will continue to exceed potential growth rate
The embargoed presser now being released. USDJPY lower on the initial headline. 103.22 from 103.32
- Japanese economy on steady track towards 2% price goal
- core CPI likely to hit 2% around early 2015
- Japanese economy to grow above potential rate as trend in fiscal year 2014 and 2015
- will not hesitate to adjust policy if obstacles emerge to meeting inflation target
- some temporary factors are behind weakness in imports
- positive economic cycle intact due to firm domestic demand
- yen weakening was a large factor at first in price gains
- capex to continue to rise moderately as trend
- no change in my view on price outlook
- cold weather and lunar new year are temporary negative factors for exports
- Japanese economy near full employment, pushing up wages and prices
- expect exports to resume recovery after temporary factors fade
- sales tax hike unlikely to cause 1997-style recession
- Asian economic growth to accelerate as advanced economies recover
- no change to view that overseas risks are declining
- Bitcoin doesn’t have qualities that currencies require
That’s your lot!
Nothing outrageous in his comments but the headline certainly grabs attention on the receding chances of further easing being required. Usual caveats being thrown in though.
USDJPY 103.25 after the initial 10 pip dip
