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Kuroda: BOJ easing will continue as long as needed

FXStreet (Bali) - Kuroda presser is underway, noting that BOJ easing will continue as long as needed, Reuters reports.

Main headlines (via Reuters)

Will not hestitate to act again if needed

Easing aimed at ending deflationary mindset

BOJ easing is having intended effects

Impact of sales tax rise have been somewhat prolonged

Saw risk of delay in conversion of deflationary mindset

Price expectations in Japan are not firmly anchored like they are in other countries

Cannot allow momentum that is pushing up wages to stop

Kuroda says he doesn’t see the need to act further now

Today’s decision itself is bold and will be effective

Forecasts in outlook report show that additional easing will have sufficient impact on economy

Gold at multi-year lows, 1180 support under threat

Gold is trading at 1185 with strong bearish bias. Price rushed lower and touched new minimum at 1183 during late Tokyo hours. Major support at 1180 is under threat. This area has capped the downside four times since mid-2013, and a sustained break below would bring us in an uncharted territory.
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