BOJ’s Kuroda: It is not necessary to cut rates further now
Bank of Japan (BOJ) Governor H. Kuroda is back on the wires now, via Reuters, noting that he doesn’t see the need to cut interest rates further, at the moment.
Additional quotes
“But there is still room to cut rates further if needed.”
“BOJ will not hesitate to ease further if needed.”
“BOJ would purchase any amount of JGBs for yield curve control.”
“BOJ has many tools, measures to deploy if needed.”
“Does not think that price target will be met soon.”
“BOJ may have to continue easing in the coming years.”
“Does not see Japanese economy falling back into deflation.”
“Financial system remains stable.”
Meanwhile, Japanese Economy Minister Y. Nishimura said that they will seek expert opinion on lifting the state of emergency in Tokyo and Osaka on May 21.
USD/JPY holds the lower ground
The yen is unperturbed by the dovish comments from Governor Kuroda, as USD/JPY holds the lower ground near 106.85, having hit a daily low of 106.78.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
