Kuroda: The Japanese economy has slightly slowed down
Kuroda on CNBC (recorded Saturday)
- Wage growth has been disappointing
- Japanese labor productivity has grown faster than any developed economies (which is keeping inflation low)
- They are raising prices in the service sector, where they are more labour-intensive
- We could further reduce interest rates but there is room
- Production and exports to China "weak"
- Hints that yen is fine in the 110.00-120.00 area
- Says he's satisfied with yen level
USD/JPY is testing the February high. This isn't a real market mover but 112.14 is a critical level to watch.