BOJ governor Kuroda gives a press conference after the BOJ meeting earlier
- Momentum towards 2% inflation target is still in place
- Core inflation has slowed down somewhat due to yen rising
- That has weighed on durable goods prices
- BOJ is to adjust monetary policy as needed
- Will take into account economy, prices, financial conditions
- Doesn't think there is a need to reconsider monetary policy now
- Current yield curve control framework is sustainable, no problems seen
- Appropriate to patiently continue current powerful monetary easing
- Sees no need to conduct another overall review of policy
Very boring stuff by Kuroda so far, and doesn't seem like he wants to touch anything on the change in the inflation assessment as well. This is probably going to be what she wrote I reckon, and that should keep the yen offered still as the session goes along.
Keep an eye out for the trade rhetoric though. That may spur some bids into the yen if it escalates further.
