Yes folks the Mr K presser/yawn fest is now in progress
- exports, ind production affected by slowdown in emerging economies
- timing of hitting 2% inflation target depends on oil price
- expects CPI to reach around 2% in H1 2016
- BOJ to continue to QQE policy until 2% inflation is stable
No real hint of further QQE sends USDJPY down to 119.56 after previously triggering the stops through 119.85 that I highlighted earlier
- BOJ will examine both upside and downside risks to economy and prices
- will adjust policy as needed
- Chinese economy will follow stable growth path ahead due to authorities' monetary and fiscal policies
- BOJ will continue to closely watch financial markets and global economic outlook
USDJPY a tad higher again at 119.67 after that test of the soft side. Demand into 119.50 that I also highlighted here
- inflation expectations are flat overall
- Capex leading indicators are rising as a trend
- doesn't see price rises suppressing consumption
- expects Japan corp profits to continue rising