The yen is barely responding to comments from Bank of Japan (BOJ) Governor Kuroda and sidekick Iwata as they comment in parliament
Hardly surprising really given they aren't adding anything new:
Kuroda:
- Reaching 2% inflation could come sooner or later depending on oi
- Likely to reach 2% inflation target in or around FY 2015
Iwata:
- Don't need to worry too much now that inflation falling
- Oil price drop to raise Japan prices over longer-term
- Effects of japan sales tax increase still continuing
(Kikuo Iwata is a BOJ deputy governor)
USDYEN grinding along near the top of the session range
More...
Kuroda:
- QQE is open-ended programme in terms of how long it will be maintained
Programme, right? Yes, that's how you spell it.
AND:
- Our policy is aimed at achieving our price target, fx may move in process but our policy not aimed at directly affecting yen
What is it the kids say? I believe you but thousands wouldn't. (Do they still say that?)