Intra-Day Market Moving News and Views
24 Jul 2014 05:48GMT
USD/JPY - Statement from BoJ's Kuroda :
'some medium, long-term challenges need to be addressed in Asia, including demographic changes, risks of excessive credit expansion and destabilisation of financial system;
in Japan, the potential growth rate has been pushed down by a decline in labor input;
prompt action to address demographic challenges is needed to preserve growth momentum of domestic demand-led economy in Asia;
current global accommodative financial conditions raise the possibility of unhealthy global capital flows into Asian economies;
important to establish regional safety nets in Asia to prepare for possible external shocks;
Asian countries should prevent excessive expansion of credit to ensure domestic demand-led growth;
a large decline in real estate prices could cause NPLS to rise in many countries and hamper growth.'
24 Jul 2014 00:42GMT
USD/JPY - 101.53... BoJ's board member Shirai gave the following statements:
'BoJ sees long-term inflation expectations in moderate rising trend, must closely monitor whether this trend will continue;
transforming public's deflation mindset will take some time but positive developments gradually starting to spread;
BoJ's goal of "sustaining 2% inflation in stable manner" is equivalent to stabilizing long-term inflation expectations at around 2%;
assigning too many objectives to monetary policy without allocating sufficient policy tools may be potentially problematic.'
Japan June trade balance -822.2 bln yen, exports -2.0% y/y n imports +8.4%.
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