BOJ's Kuroda: No change to approach in quantitative easing

BOJ governor Haruhiko Kuroda steps up to the plate now in parliament

• Maintaining the 2% price target is very important
• We are still half way to achieve the 2% price target
• Still need to maintain quantitative easing
• But must watch out for impact of prolonged easing on banks' profits

Pretty much similar to the rhetoric here last week, and his comments today go hand-in-hand with those mentioned by Japanese prime minster Abe earlier.

Doesn't do himself any harm to be reappointed for a second term when his time is up in April this year.

But his comments are nothing new to markets, USD/JPY still at 109.95 unchanged. EUR/JPY at 137.00, while GBP/JPY is at 155.25 - both also barely moving since the start of the parliamentary comments.

"Half way to go to reach 2% inflation, that's about this much".