BOJ’s Kuroda says FX rates not a target of monetary policy

Author: Mike Paterson | Category: Central Banks

USDJPY lower at 99.15 from 99.54 in light of comments saying that BOJ have done enough for the moment

Kuroda interview with journalists just released:

  • BOJ won’t change monetary policy based on FX moves.
  • Have done what’s necessary for now
  • sees 2% inflation target as more important that 2 year timeframe
  • BOJ will scrutinize effects every month but not necessarily change policy each month
  • Forex rates not the target of monetary policy
  • There are both upside and downside risks to Japanese prices
  • Fed exit strategy offers hints for eventual BOJ exit
  • Govt would share BOJ losses on asset holdings
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