BOJ's Kuroda: Doesn't think that momentum to hit price goal is lost currently

Author: Justin Low | Category: Central Banks

Further comments by Kuroda

  • Doesn't think that economic outlook is deteriorating rapidly
  • External demand is weak but domestic demand remains firm
  • BOJ main scenario of a pickup in global growth hasn't changed
  • BOJ still has options to ease monetary policy further
  • It would be more desirable if the yield curve would steepen more
  • Will make necessary adjustments to ensure yield curve is steep enough
Not much of anything new still by Kuroda with the comments above. The part on the yield curve is perhaps the interesting bit as it suggests that they could intervene if long-term yields fall off too far, too fast - not that it is anything new either.

Over the past few weeks, the low that 10-year yields hit was nearly -0.3% and they may not have the appetite to see things go that far or beyond that.

Otherwise, it's just the same old stuff being repeated by Kuroda for the most part.
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