BOJ's Iwata says oil prices may fluctuate but likely to move up as a trend

BOJ's deputy governor Iwata speaking again after earlier comments 22 June

I wonder what his rationale is for that statement? Not so sure I agree.

• don't need to change BOJ's inflation forecasts just from temporary fluctuations in oil prices
• sees little chance of Japan's economy will worsen but if it does on big external shock then can top up stimulus
• BOJ is buying ETF as part of its QQE programme, not targeting certain stock price level
• better to maintain BOJ's pledge to increase JGB holding at 80trln yen per, removing it could cause unnecessary market turmoil
• bond buying will fluctuate depending on how much is needed to achieve its yield target

Earlier Iwata was out saying the BOJ had "absolutely no need to raise interest rates"

USDJPY 111.05 turning lower after failing into 111.20 again. Demand nearby and 110.80

Iwata- Oil price trend higher