Bank of Japan (BOJ) Chief Haruhiko Kuroda reiterated that they will not hesitate to ease the monetary policy further if the need arises while addressing the post-monetary policy decision press conference.
Appropriate to maintain current powerful monetary easing to support economy.
Upward pressure seen in bond yields.
Important for FX to move stably reflecting fundamentals.
Recent rapid yen weakening is negative for economy.
Will closely watch impact of forex moves on economy, prices.
Important for profitable companies benefited from weak yen to ramp up capex, raise wages, to strengthen virtuous cycle from income to spending.
Future financial, economic outlooks are extremely uncertain.
With Governor Kuroda warning against the recent rapid yen fall, USD/JPY is moving back towards 134.00, reversing the renewed upside to near 134.30. The spot is still up 1.38% on the day.
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