The Bank of Japan releases the text of Governor Kuroda's speech.
His comments could be pretty much any of his past speeches on the economy and policy. Same old from the Gov. If there is a prize for making his policies clear, by repeating them over and over again, he'd get it:
Says Japan's economy remains in severe state but picking up as a trend
- economy likely to continue improving as a trend
- core consumer prices likely to fall for time being, but turn positive and accelerate pace of increase thereafter
- financial system remains stable as a whole
- BOJ will ease further without hesitation if needed with close eye on impact of covid-19
- pace of Japan's economic recovery likely to be modest as caution over pandemic remains
- says downward pressure on service consumption likely to continue
