Yes folks the Mr K presser/yawn fest is now in progress

  • exports, ind production affected by slowdown in emerging economies
  • timing of hitting 2% inflation target depends on oil price
  • expects CPI to reach around 2% in H1 2016
  • BOJ to continue to QQE policy until 2% inflation is stable

No real hint of further QQE sends USDJPY down to 119.56 after previously triggering the stops through 119.85 that I highlighted earlier

  • BOJ will examine both upside and downside risks to economy and prices
  • will adjust policy as needed
  • Chinese economy will follow stable growth path ahead due to authorities' monetary and fiscal policies
  • BOJ will continue to closely watch financial markets and global economic outlook

USDJPY a tad higher again at 119.67 after that test of the soft side. Demand into 119.50 that I also highlighted here

  • inflation expectations are flat overall
  • Capex leading indicators are rising as a trend
  • doesn't see price rises suppressing consumption
  • expects Japan corp profits to continue rising