5 hours ago | October 31st, 2014 07:14:15 GMT

Kuroda says its for the govt to decide on sales tax hikes

by

  • BOJ forecasted on the basis that sales tax will rise again
  • no intention to affect govt decision on tax
  • Japanese fiscal health is important
  • not in a position to comment on GPIF asset management
  • no link between BOJ and GPIF policy
  • extended JBG buy maturity to affect whole yield curve
  • sees no problem in negative yields

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5 hours ago | October 31st, 2014 06:46:32 GMT

Kuroda says he doesn’t see the need to act further now

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  • today’s decision itself is bold and will be effective

So he will keep the markets guessing then

USDJPY back down to 111.02

  • still room to ease if needed but we feel we’ve taken sufficient steps today
  • no change to 2 year timeframe for inflation target
  • target still to be reached middle FY2014-16

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