Comments by BOJ governor Haruhiko Kuroda following the BOJ monetary policy decision earlier in the day
- Have maintained YCC policy in this meeting
- Maintained negative yield policy, 10-year JGB yields target
- Japan's economy is expanding moderately
- Global growth is also continuing
- Expects domestic economy to keep expanding
- Sees positive economic cycle going forward
- Expects CPI to pick up towards 2% target
- Too soon to assess effects from July changes on JGBs
- Summer period generally has less trading activity
- Fewer ETF purchases in August doesn't mean a shift in policy
- Essential to continue current powerful monetary easing
The central bank kept policy unchanged earlier today here and so far there isn't a change in language from Kuroda that has a material impact on markets. It's the same old comments and template being thrown at the media really.