- upward trend in prices unchanged
- ready to take policy action if upside or downside risks to the economy and/or prices materialize
- if 5-10 year inflation expectations weaken, that may hurt economic activity, hamper efforts to hit 2% inflation at early date
- want to guide monetary policy looking at various surveys on inflation expectations as well as wage developments
- timing of reaching the 2% goal may change depending on oil
Nothing new here from Iwata
USDJPY 117.70
