Japanese prime minister Shinzo Abe speaks in parliament in Tokyo
- Market environment has greatly changed due to 2% target
- Still hopes that BOJ continues to promote bold monetary easing to achieve target
- 2% target is appropriate for BOJ
- Japan has not escaped deflation yet, but momentum towards 2% inflation is still there
- 2% target will be reached around FY2019
Abe setting the tone of what he wants from the BOJ (and its next governor?). Not very encouraging given recent statements to say that they want to drop the "deflation" term, and now saying that they have not yet escaped from it.
No major points from his comments so far. Yen is barely budging as well. USD/JPY still at 109.95, EUR/JPY pivoting at 137.00.
