- and revealed supply side constraints that had been hidden
- improving conditions in wages and labour market becoming more clear
- tight labour market will make it easier for wages to rise
- tackling labour shortages will be key issue from now on
- not worried about state of US economy
- expects US economic growth to speed up
USDJPY still 100.94
EURUSD broken up through 1.3710 pivot to post 1.3720 so far.. Offers still at 1.3730
- increased corporate investment in Japan important for future economic growth
- need structural reforms to improve productivity
