- Monetary policy does not directly target forex
- Consumer prices likely to fall below 2% after next fiscal year
- Appropriate to maintain monetary easing to support economic recovery
- Uncertainties surrounding Japan economy is extremely large
There is no change to the central bank's narrative just yet, even if it is expected that they will revise higher their inflation forecasts in the coming policy meeting next week. For now, the lack of a BOJ pivot will keep the pressure on the yen.
