Bank of Japan's governor Kuroda speaking following today's MPC meeting
- Labour shortages are not holding back economic growth
- Global exports, output have improved in 2017
- Japan's economy has improved with the global economy
- Japan needs to raise productivity for long term growth
- There has been some improvement in prices in 2017
- Expects consumer prices to rise more next year
- CPI has risen gradually, but not much given economic growth
- Steady economic recovery to continue into 2018
- "Reversal rate" theory is interesting academic analysis
- Doesn't see the need to review yield curve control (YCC) policy
- My mention of reversal rate did not indicate change in thinking on policy
Kuroda going out to say that things will remain as status quo for the time being. And that there's no need to reconsider their currency policy framework (YCC). USD/JPY not really moving, now at 113.43.
