BOJ's Noguchi: BOJ may be able to begin debate on strategy for hitting price target around end of 2021
BOJ Noguchi speakingIt is not often we get BOJ headlines in the NY session, but BOJ Noguchi is on the wires saying:
- BOJ may be able to begin debate on strategy for hitting price target around the end of 2021
- BOJ must focus on economies trend if deciding on easing more, look at wages, jobs, output gap
- ease without hesitation if shock event pushes economy into severe downturn
- if DOJ were to ease further, it could cut interest rates, ramp up asset buying or extend ration of yield it targets
- commitment to keep increasing base money until inflation stably exceeds 2% 'doesn't have a strong effect' on public perceptions
The USDJPY has just dipped below the 100 day MA at 109.567,and tests the low from July 7 at 109.527. Staying below the 100 day moving average increase the bearish bias.