BoJ Gov Kuroda: If inflation nears 2%, BoJ will need to adjust monetary policy to stabilise prices
|BoJ Governor Kuroda has stated that "If inflation nears 2%, BoJ will need to adjust monetary policy to stabilise prices."
Key comments
- Japan not facing an immediate threat to price stability but that doesn't mean BoJ can print money unlimitedly forever.
USD/JPY update
At the time of writing, USD/JPY is trading at 107.48 having travelled from a low of 107.25 and a high of 107.76. Overnight, USD/JPY pushed above 108.60 then rolled over to 107.25 before popping in Tokyo as the US dollar picks up the pace through Asia ahead of the next key manufactiring data from China.
In other related news, Japanese Prime Minister Shinzo Abe said on Wednesday in parliament that the government would take "necessary and sufficient" economic policies to ensure the country does not return to deflation. When asked about the Bank of Japan's aggressive bond-buying programme, he said, "we're now laying out a bold stimulus package. This will of course involve (issuing) government bonds."
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