No prizes for guessing the rest of the statement

Kuroda’s presser underway but don’t expect any deviation from the mantra

  • can still effects of reaction to tax rise
  • expects impact of tax rise to wane gradually
  • CPI likely to reach 2% in middle of projection period
  • BOJ will check risks, make adjustments as necessary
  • BOJ easing is having intended impact
  • Japanese economy is continuing to exceed potential as a trend
  • expects consumer spending to remain resilient
  • employment and income situation recovering steadily

USDJPY not surprisngly still 104.85 on the repetition