Intra-Day Market Moving News and Views
29 Jan 2015 07:00GMT
USD/JPY - ...... Comments from Japan BoJ's Kuroda, quote:
'prices rising in japan reflecting improvements in corporate revenues, wages;
QQE exerting intended effect on economy;
Japan prices continue to rise as a trend despite pressure from oil price falls;
Japan consumer inflation may fall due to oil price falls, but lower oil costs benefit economy;
inflation likely to accelerate in latter half of next fiscal year, hit 2% in period centering fiscal 2015;
no change to our monetary policy stance, which is to aim for 2% inflation in roughly two years;
what is important is to look not just at prices of individual goods but also medium- to long-term trend of inflation;
Japan's output gap has narrowed near zero, companies signalling eagerness to raise wages;
no change to factors that determine price trend, including output gap n inflation expectations;
have been saying since April 2013 that 2% inflation will be achieved at period centering fiscal 2015;
timing of Japan hitting 2% inflation may change somewhat depending on oil price moves.'
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