BOJ's Kuroda says economy continues to recover moderately as a trend
Bank of Japan governor opens up his press conference 16 June 2016
- economy likely to expand moderately as a trend
- inflation expectations rising as a whole but weakening recently
- CPI likely to be slightly negative or about 0% for time being but accelerate toward 2% as price trend steadily rises
- will continue QQE with neg rates as long as needed
Mr Yawn on script so far but USDJPY has taken out the 104.00 barrier option and posted 103.96
- must continue to watch risks to price trend
- won't hesitate to take further steps on three dimensions
- constantly checking QE impact on liquidity, functioning of bond market
Nothing on FX rates so far but we'll be getting to that no doubt.
USDJPY 103.75 on new session lows as markets give a big thumbs-down to Kuroda's continuing hot-air.