Kuroda: Won't hesitate to add easing if needed

Bank of Japan Governor Haruhiko Kuroda said that they won't hesitate to add easing if needed.

Key comments

Will continue to take appropriate policy.

Will mull further extension of virus program if needed.

Japan's economy is picking up as a trend.

Expect economic improvement to be only moderate.

Risks are on the downside for the economy, prices.

Introduction to negative rates did help to lower the yield curve. 

Negative rates helped to boost the economy. 

Market implications

USD/JPY is moving in the right direction for the BoJ having touched 108 in recent trade on the back of rising US yields and spillover from the volatility on Wall Street.

There has been no further reaction to these comments though.