Waiting for oil to rise to get inflation higher is a very weak excuse
I don't think I've ever heard so much rubbish coming from a central bank. If the price of oil is going to be the saviour of Japan then they're in heaps of trouble
Japan needs what the US needs, what Europe needs, what the UK has some of, stronger domestic demand. They can't hide behind something they have absolutely no control over
One thing is certain, they can't or shouldn't ease further if all they are waiting for is the price of oil to go higher, so maybe the comments on the outlook are their way of saying that they can't ease right now
It's looking a sorry mess in Japan right now and that might spell further trouble down the line
Over to Kuroda in a moment
