BoJ Kuroda: Will maintain easy monetary policy to support the economy
The Bank of Japan's governor Haruhiko Kuroda explained that Japan's core Consumer Price Index was likely to slow pace of increase from next year.
The governor's comments come in the wake of data showing the country's consumer inflation rate hit a 40-year high.
"Uncertainty regarding Japan's economy is extremely high. We also expect year-on-year growth in core consumer inflation to slow back below 2% next fiscal year," Kuroda said in a semi-annual testimony to parliament.
"We'll continue with our monetary easing to support the economy and achieve our 2% inflation target in a sustained, stable fashion backed by wage growth," he said.
USDJPY update
The price is boxed in but a breakout could be on the cards immanently, one way or the other. The bullish bias stays in play so long as the trendline and horizonal support between 139.00/50 holds.
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
