Anyone want to fill in the the next 5-10 lines ?
- virtuous cycle is working still
- inflation expectations seen rising over longer term
- no change to underlying trend in Japan
- CPI likely to reach 2% around FY 2015
- CPI forecast assumes gradual rise in oil prices
- BOJ will check risks, adjust policy as needed
- QQE is having desired effect
- some BOJ members more cautious on CPI forecast for FY 2015
- falling oil prices a positive for Japanese economy
- oil prices will put upward pressure on CPI in longer term but limit gains in short term
All as per printed programme so far
USDJPY staging a relief rally of sorts to 117.74
Kuroda – no need for a cue card
