Intra-Day Market Moving News and Views
10 Sep 2014 01:31GMT
USD/JPY - ..... Statement from BoJ Deputy Governor Iwata, quote:
'QQE has been exerting intended effects;
Japan's economy continues to recover moderately as a trend, although effect of sales tax hike remains;
what matters is the mechanism underlying the economic recovery and not temporary factors;
BoJ judges that the virtuous cycle of economic activity remains firmly intact in both the household and corporate sectors;
with the employment and income situation improving steadily, private consumption has remained resilient as a trend;
labour market is likely to continue tightening as the economy continues to recover;
virtuous cycle of economic activity in the household sector is expected to remain in place;
BoJ will carefully examine how decline in real income, due to tax hike, affects households' spending behaviour;
need structural reforms, not just monetary policy, to achieve govt economic growth targets;
2 pct price target can be achieved with monetary policy regardless of potential growth rate;
Japan's potential growth rate estimated around 0.5 percent; now is time for efforts to promote innovation and reverse decline in working age population; export recovery has been delayed, but exports likely to head for a moderate increase;
Japan's economy likely to continue recovering moderately as a trend;
yen depreciation does not necessarily lead to inflation;
exports are potential concern for outlook of Japan's economy;
from somewhat longer-term perspective, correction of past excessive yen appreciation will mitigate downward pressure on exports;
yen depreciation can raise prices for some goods but also weigh on aggregate demand;
need to examine output gap to forecast prices on macro level;
increase in CPI is expected to accelerate moderately, along with increasing wages;
yen falls will encourage firms to be more proactive in capex, boost exports.'
10 Sep 2014 01:31GMT
USD/JPY - ..... Statement from BoJ Deputy Governor Iwata, quote:
'QQE has been exerting intended effects;
Japan's economy continues to recover moderately as a trend, although effect of sales tax hike remains;
what matters is the mechanism underlying the economic recovery and not temporary factors;
BoJ judges that the virtuous cycle of economic activity remains firmly intact in both the household and corporate sectors;
with the employment and income situation improving steadily, private consumption has remained resilient as a trend;
labour market is likely to continue tightening as the economy continues to recover;
virtuous cycle of economic activity in the household sector is expected to remain in place;
BoJ will carefully examine how decline in real income, due to tax hike, affects households' spending behaviour;
need structural reforms, not just monetary policy, to achieve govt economic growth targets;
2 pct price target can be achieved with monetary policy regardless of potential growth rate;
Japan's potential growth rate estimated around 0.5 percent; now is time for efforts to promote innovation and reverse decline in working age population; export recovery has been delayed, but exports likely to head for a moderate increase;
Japan's economy likely to continue recovering moderately as a trend;
yen depreciation does not necessarily lead to inflation;
exports are potential concern for outlook of Japan's economy;
from somewhat longer-term perspective, correction of past excessive yen appreciation will mitigate downward pressure on exports;
yen depreciation can raise prices for some goods but also weigh on aggregate demand;
need to examine output gap to forecast prices on macro level;
increase in CPI is expected to accelerate moderately, along with increasing wages;
yen falls will encourage firms to be more proactive in capex, boost exports.'
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