BOJ board member Sakurai out on the wires 1 Dec 2016
- sees no big swings in bond yields or BOJ's JGB buying amounts
- doesn't see big problematic distortion to Japan's REIT market for now as a result of BOJ purchases
- in general it's better for forex rates to move stably without big volatility
- it's true weak yen pushes up inflation but there's uncertainty on how much further yen will weaken ahead
- new US admin's econ pols will be among key factors that will drive yen moves
I would have thought that the BOJ would have been breathing a sigh of relief that their work is being done for them. They'll be hoping the US Fed don't let them down now.
Meanwhile USDJPY 114.03 after the retreat to 113.88
For those wanting more here's a screen shot
