• won’t comment on specifically when Japan will achieve 2% target
  • says his own CPI forecasts are slightly lower than median forecast of BOJ’s nine board members

USDJPY still banging on 120.00..

  • focussing too narrowly on short term price moves in guiding policy could destabilise financial system in the long term
  • how to exit QQE will depend largely on economic and price developments at the time
  • uncertain whether BOJ’s bond-buying could tame the spike in bond yields if market loses trust in Japan’s finances
  • there is a lag in how asset price moves affect inflation which is why BOJ shouldn’t set deadline for its price target

Nothing new from this man and we see USDJPY teasing 120.00 still at 119.87 after 119.85 highs

Sato - see slowdown in CPI gains still

Sato – see slowdown in CPI gains still