Bank of Japan governor Kuroda from the press conference 16 June
- will adjust as necessary in order to maintain momentum toward 2% price target
- it's true that prices are not rising despite improved output gap
- taking time to end deflation mindset in Japan
- job market has tightened further, which is clearly putting pressure on wages
- rising wages will lead to higher selling prices, service prices
- expects consumer prices to rise gradually from here on
- amount of JGB purchases will vary depending on market conditions
- do not have pre-set idea about pace of bond buying
- still quite a distance to achieve 2% target
- not appropriate to present specific plan now about exit from stimulus
- hard to talk about simulations about what will happen with BOJ earnings during exit
- not buying ETFs with purpose of maintaining specific price levels
USDJPY heading a little higher and breaking up through 111.30 offers/res to post fresh 2-week highs of 111.38. Stronger offers into 111.50 and 111.80 await. Demand now 111.15-20 and 111.00
Kuroda - No exit just yet
