Bank of Japan governor Kuroda's presser underway 31 Oct

  • Japan's economy expanding moderately
  • no change to stance of strong monetary easing to hit 2% price target asap

Yep good luck with that one still

  • board member Kataoka voted against decision saying possibility low for inflation to accelerate towards 2%
  • PM Abe hasn't given up on primary budget surplus target
  • expect govt to continue to take steps toward fiscal discipline
  • BOJ will continue ETF purchases as appropriate based on guideline on asset purchases
  • not buying ETFs with specific stock prices in mind
  • upward pressure on wages steadily rising
  • debating exit strategy would send wrong message to markets
  • no need to change current yield curve control as prices are distant from 2% target.

USDJPY 113.07 suitably unfazed by the lack of substance in the remarks.

Let's see if anything comes of the Q&A