Comments from earlier today from the BOJ Governor strongly suggest that the Japanese central bank is content with current policy settings and that they will not be making any policy changes this week.
. EXPECT JAPAN TO CONTINUE MODERATE RECOVERY
· CPI LIKELY TO PICK UP IN 2ND HALF OF FISCAL YEAR
· CPI LIKELY TO REACH 2% AROUND MID OF PROJECTION PERIOD
· REACHING 2% INFLATION TARGET IS MOST IMPORTANT TARGET
· NO CHANGE IN BOJ POLICY TARGET
· WEAK YEN HAS BEEN PLUS FOR JAPAN’S ECONOMY
· EXPECTS GOVT TO PROCEED TOWARD PRIMARY BALANCE GOAL
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