BOJ governor, Haruhiko Kuroda, begins his press conference
- Japanese economy is in extremely severe situation
- Believes that the economy will recover
- Economic outlook remains largely unchanged since April meeting
- Economy to recover later in the year if virus outbreak wanes
- Inflation is expected to stay below zero for the time being
- Corporate financing remains under major stress
- BOJ stands ready to boost funding programs if needed
So far, nothing out of the ordinary from Kuroda as he reaffirms what we already know of the BOJ and their stance recently. He does add that they would like to show a specific outlook in their July meeting, taking into consideration various factors.
USD/JPY is sitting little changed from all of this, at 107.40 currently.
