Well, the BOJ can take comfort that the yen has been the weakest performing major currency so far this year
- Desirable for exchange rate to reflect fundamentals in a stable manner
- No change to stance of sticking to 2% inflation target
- Not hitting 2% inflation target does not mean BOJ efforts are wrong
Besides the mess in deciphering his comments on the yields band, the rest of Kuroda's remarks are pretty much sticking to the script for the most part. So, there isn't much of anything new for market participants to work with.
