BOJ’s Kuroda: Will keep supporting funding of companies

Bank of Japan (BOJ) will keep supporting the funding of companies closely watching the coronavirus pandemic situation, said Governor Haruhiko Kuroda in his scheduled press conference after the monetary policy decision announced earlier this Thursday morning.

Further comments

Japanese economy started to pick up -exports, production picking up.

Business investment on declining trend -improving in economy only moderate

Economic outlook is on a recovery trend -price expectations weakening.

Inflation going back to positive territory.

Will not hesitate to add easing if necessary.

Domestic, external financial markets remain nervous but strain has eased somewhat.

Abenomics has helped sustainable growth of Japanese economy.

Will continue to underpin japan economy with powerful monetary easing.

BOJ to keep close contact with govt in steering monetary policy.

Would consider additional monetary easing with importance of sustaining virtuous economic cycle in mind.

Remain committed to proceed with policy together with govt.

Market reaction

USD/JPY extends the drop below 105.00, mainly driven by broad US dollar retreat. The yen markets are unperturbed by the above comments from Governor Kuroda. The spot drops 0.11% to 104.83, as we write.

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