BOJ's Kuroda says FY2019 GDP will slow slightly due to capex and sales tax

BOJ governor Kuroda begins his press conference 20 July

• risks to prices and economy tilted to the downside
• will adjust mon pol as needed to maintain price momentum
• board members Kiuchi, Sato made proposal based on the view that inflation won't hit 2% in 3-year f/cast period under report. Rejected by board.
• companies more cautious on raising prices but don't expect this to continue
forever

USDJPY had a quick look above 112.20 only to fail again. Currently 112.10

Kuroda- Anyone still awake out there?