• virtuous cycle seen working

Well that’s the first two standard mantras out of the box in his presser which has just started

USDJPY 117.33 still

  • exports to recover moderately due to overseas recovery and weak yen
  • private consumption remains firm as a trend, sales tax hike to wane graudally
  • CPI likely to hit 2% around fiscal 2015/16

And there’s the next three

  • BOJ QQE having intended effect
  • expects expanded QQE to strengthen transfer mechanism of monetary policy
  • very important to maintain trust in Japan’s public finances
  • expect govt to maintain fiscal consolidation plan
  • sales tax decision up to govt and parliament

I’ll go and make some tea

 Kuroda asks if anyone out there has a new script

Kuroda asks if anyone out there has a new script