BOJ governor Kuroda continues his press conference 20 July
USDJPY still 112.11suitably unfazed by the hot air repetition
- Japan is no longer in a state of sustained price declines
- momentum toward 2% price target is firmly in place
- 2% inflation target is global standard, helping to contribute to stable currencies
- will maintain 2% target
Don't call us, we'll call you when it gets there.
- yield curve control is sustainable policy framework allowing BOJ to flexibly respond to economy and prices
- expect impact of QE to strengthen in future
- real rates will fall as inflation picks up pace
USDJPY 112.06 but EURJPY nudging up at 129.15 as EURUSD rallies to 1.1522 from 1.1505
EURJPY 15m
