BOJ's Funo reported by Reuters 8 Nov
- and corp earnings
- stock prices are not over heating
- no truth to claims that BOJ doesn't buy ETFs when stock prices rising or that BOJ is pushing up stock prices
- no need to ease mon pol further now
- if a majority of board members see need for change then BOJ may respond in some way
- ave wages to rise given output gap and labour shortages
- can't assume mon pol is fixed until inflation reaches 2%
- need to always monitor side effects of QE
Nikkei currently 22910.38 -18% but just off session highs from 22759.07 lows
USDJPY currently flat-lined again around 113.80 after yet another failure yesterday above 114.30 and retreat to 113.65. Rinse n repeat. Sell high/buy low. Just take your pick.
