It does not look like a whole lot of debate on additional easing took place
- Each respective central bank guides monetary policy based on their own economies
- BOJ will scrutinise impact of other central bank moves' in guiding policy
- Economic slowdown abroad is continuing, closer scrutiny is needed in October
- No signs of recovery in the global economy just yet
He's putting some emphasis on this particular line that was added to the statement today:
"Given that, recently, slowdowns in overseas economies have continued to be observed and their downside risks seem to be increasing, the Bank judges that it is becoming necessary to pay closer attention to the possibility that the momentum toward achieving the price stability target will be lost. Taking this situation into account, the Bank will reexamine economic and price developments at the next MPM, when it updates the outlook for economic activity and prices."
I don't view it as something groundbreaking but perhaps he's alluding to the fact that they could be looking to ease policy further when they update their projections in October.
But so far, he's not giving any firm indication of that either. In any case, that might be looking a bit too much into what Kuroda is saying. At face value, his comments aren't really shedding new light on the current BOJ rhetoric.
