BOJ governor Kuroda at his presser, now underway 20 Dec

  • in general weak yen raises prices, pushing up import costs
  • weak yen can also indirectly affect output gap
  • Japan economy to continue to grow above its potential from now on
  • upgrade in economic assessment based on overseas economic recovery, pick-up in Japan's exports, factory output and pvt consumption.

I reckon he and the govt should be sending Trump a very large Xmas bonus for bailing them out.

  • monetary policy does not target fx
  • current fx situation is strong USD not weak yen
  • diverging mon pol between Japan/US could affect fx market

You mean it hasn't already Mr K ?