Highlights from the BoJ Press Conference

  • Bank of Japan Governor Kuroda: Japan economy continues moderate recovery despite decline in demand after sales tax hike
  • Kuroda: Exports showing weakness
  • Kuroda: Private consumption in a firm trend
  • Kuroda: CPI likely to hit 2 % around middle of forecast period between 2014-16
  • Kuroda: QQE has been exerting its intended effects
  • Kuroda: Will continue with QQE as long as necessary to achieve 2 % target in stable manner
  • USD/JPY little changed; trading at 104.83 currently

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