BOJ's Kuroda says Japan's industrial production is recovering

Author: Mike Paterson | Category: News
  • virtuous cyle taking place in Japan's economy

And we're off and running with Mr K once again.. Definitely something lost in translation on that "virtuous" he keeps coming out with

  • inflation expectations are rising over long-term view
  • CPI likely to reach 2% target around FY2015
  • exports will continue moderate recovery due to global economy and weak yen
  • Japanese economy to continue moderate recovery mode
  • will continue with QQE as long as necessary to achieve 2% price stability
  • will examine both upside and downside risks to economy and prices and adjust policy as required

Nothing of note so far

USDJPY 119.16

  • doesn't think additonal QE in Oct had negative impact
  • inflation expectations still intact due to expanded easing
  • as long as ccys move in a stable manner and reflect fundamentals it would not be negative for economy

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