BOJ governor Kuroda into the Q&A at his press conference 31 Jan
- exit depends on economic situation at the time
- balance sheet, interest rates key factors for exit
- premature comments could end up confusing market
- still only halfway to reaching 2% target
- trade policy and FX policy are not linked
- not desirable for ccys to continually weaken or strengthen, should reflect fundamentals
Dream on Mr K. Never have, never will.
- BOJ's daily ops do not indicate future policy direction
Meanwhile USDJPY rally stalling for the moment but not retreating just yet.
Kuroda happy to be getting away with it still