BOJ governor, Haruhiko Kuroda, comments
- Shouldn't judge BOJ tools just by looking at short-term policy target level alone
- Says that BOJ policy can be very accommodative as compared to the Fed, ECB
- BOJ has ample room for further action
- Will carefully weigh the costs and benefits of each measure
He's repeating the same old song over and over again. Lots of talk about potential easing but no real conviction in laying down what they are.
The BOJ is continuing to keep its cards close to its chest as they will want markets to believe that they still have an ace up their sleeve.
But we all know that they are being forced into a corner with limited outs at this point and it's only a matter of time before the BOJ has to deal with the reality of the situation.
