BOJ’s Kuroda: Upward revision to GDP forecasts due to government stimulus plan
|Further comments are crossing the wires from the Bank of Japan (BOJ) Governor Kuroda, as he continues to address the post-monetary policy presser this Tuesday.
Key Quotes:
Risk sentiment recovering worldwide pushing up stocks.
Downside risks from overseas economies still large.
Keeping inflation target helps stabilize currencies in long run.
Benefits from policy outweighing costs now.
Must pay attention to side effects from policy.
Lower rates having positive impact on households as a whole.
Upward revision to GDP forecasts due to govt stimulus plan.
Don't see change in price trend.
Downward revision to CPI forecasts due to oil price falls.
Inflation gradually heading towards 2% target.
See slowdown in consumption as temporary.
Too early to predict impact of coronavirus outbreak.
Will continue to guide policy with easing bias.
Don't expect big swing in capex before and after Olympics.
Will continue to guide policy with easing bias.
Don't expect big swing in capex before and after Olympics.
USD/JPY is seeing a fresh leg lower, as the yen demand is on the rise, with the European traders hitting their desks and reacting negatively to the China virus outbreak. The spot prints fresh lows near 109.90 region, at the press time.
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