Comments from the BOJ leader
- Sees ongoing virtuous cycle of corporate profits and investment
- Virtuous cycle of corporate profits and business fixed investment will continue despite
- Virtuous cycle is operating particularly in manufacturing on the back of firm recovery overseas
- impact of supply chain disruptions an factory shutdowns in South-East Asia
- BOJ is committed to achieving 2% inflation target as early as possible
- If necessary, BOJ will further relax monetary policy such as by reducing interest rates
- Japan's private consumption has remained stagnant
- Expects steady rise in inflation to 2%, though not before 2023
- Economy will recover with impact of covid waning due to vaccinations
These comments were out a short time ago. USD/JPY has been on the march higher but the rise is more likely due to the strong Empire Fed numbers.
