Head of the BOJ speaks following their monetary policy meeting
Economy is likely to turn to a moderate expansion
Will continue with QQE and yield curve control as long as is needed to achieve 2% target
Will adjust mon pol as appropriate in order to maintain momentum towards achieving BOJ price target
- CPI excluding food and energy is stagnating
- Prices are keeping momentum towards 2% but lacks strength
- Will pursue powerful monetary easing to achieve price target
- Expects wage rises from labour talks to support the economy
The comments so far are quashing any slight expectations that he might tinker with the yield range.
US hikes are not having a serious impact on emerging markets
- Expects G20 to discuss global economic outlook
- Expects strong interest from G20 on new US governments policies
We're in to the non-BOJ waffle now so I guess we can write the rest of this one off. We'll be into the Q&A in a bit.