Further comments by Amamiya
- It is important for major central banks to maintain 2% inflation target
- Such a price goal helps to stabilise the currency
- Does not rule out taking negative rates into deeper territory
- Need to weigh up the costs and benefits of easing further
There's nothing really new by Amamiya, but the takeaway is that the BOJ sees the need to remind markets that they are willing to step in - or at least give out that impression. Not too much of a coincidence with USD/JPY hovering around 105.00 perhaps.
That said, I reckon we can only expect the BOJ to really come in and do something if USD/JPY does start moving dangerously close to breaking below 100.00.
Otherwise, this is the same old, same old. More bark than bite from the BOJ.
