The Bank of Japan (BOJ) Governor Kuroda is back on the wires now reiterating that the BOJ is ready to act to reach its price target, we cover some of his major comments:
“Regional banks must make efforts to boost profitability such as through cost cuts.
Regional banks in Japan have sufficient buffers, capital but seeing profits from core operations fall due to low rates, dwindling population.
Recent slowdown in Japan's consumer inflation likely temporary, expect prices to gradually accelerate.
BOJ can avoid super-long yields from falling too much by adjusting market operations appropriately.
BOJ has become more keen to ease than before as risks to economy is heightening.
If BOJ were to ease, it ought to further push down short, medium-term yields.
BOJ can avoid super long yields from declining too much by adjusting market operations appropriately.”
Concurrently, USD/JPY remains unchanged at 107.50 amid mixed market sentiment.