More from BOJ governor Kuroda - 23 January 2018
- Will firmly continue monetary easing in order to achieve 2% price target as early as possible
- No need to change joint statement between government and BOJ
- Even with improvements in the economy and wages/income, prices are far from 2% target
- No need to adjust yield curve control (YCC) simply due to rise in inflation expectations
- Day-to-day JGB buying operations do not indicate future course of monetary policy
- Sees no difficulty in conducting JGB market operations
- Closely watching FX markets
- Does not see a yen rise in particular; as the dollar's decline stems from euro strength
Yen continues to weaken as Kuroda continues to pour cold water (his comments on the JGB) on those who are hoping that the BOJ are looking towards signalling a more hawkish tone.
USD/JPY now 111.16 while EUR/JPY up to 136.19 near session highs.
Did you not hear that we are not changing monetary policy any time soon?
