I am paraphrasing, Japanese Prime Minister Abe:
- BOJ's price target is one measurement when guiding economic policy but key is to create jobs
- Japan's inflation has yet to reach BOJ's price target, hope BOJ keeps efforts to meet target
- I trust BOJ Governor Kuroda's handling of monetary policy
- Don't think Japan should maintain ultra easy policy forever
- Up to the BOJ to decide when to end easy policy
Read these comments, they are significant. The ducks are being lined up for the BOJ to scale back on its inflation target ambitions (we've seen plenty of signs of this in past months) and therefore on its very, very easy monetary policy.
This will not happen happen any time soon, but its happening in very small steps despite inflation being way below target. this will continue.
Yen is adding a few points, makes sense:
