BOJ governor Haruhiko Kuroda begins his press conference
- Downside risks are centered overseas
- Upward momentum in prices remains intact
- Need to monitor risks posed by US-China trade friction
- If trade protectionism prolongs, would have broad impact on global economy
- Will consider further easing as appropriate if price momentum is undermined
- Will make appropriate decision when more easing is needed
- Those options include lowering short, long-term rates, buying more assets and expanding the monetary base
The usual rhetoric so far from Kuroda. They have been hammering home the threat presented by US and China on the trade front but insists that so far the impact on Japan is rather limited. Other than that, there is a considerable difference - if you want to be picky - compared to the start of the year as now they're talking more on additional easing measures rather than tightening policy.
However, that has been the case since the middle of the year already. So, nothing new really here.
