BOJ's Ishida says negative rates won't have much effect at this time

BOJ board member out on the wires speaking to reporters

• dissented to adoption of neg rates because doing so now wont' have much positive effect
• effect of neg rates stimulating portfolio rebalancing, pushing down yield curve is limited
• neg rates won't necessarily affect capex
• even if neg rates prompts Japan investors to shift assets overseas that won't stimulate Japanese economy
• not sure that neg rates are a good idea when markets are so unstable
• needs more time to assess impact of neg rates on markets

I think we can gauge from all that that he's not Kuroda's Xmas card list

Meanwhile USDJPY a tad lower again113.95 as Nikkei trades at 16,229.10, +2.41%, but just off session highs posted a few moments ago.

Support/demand into 113.80 still. Offers/res into 114.30