BoJ’s Kuroda: BoJ monetary easing will not end up hurting faith in the Yen
More comments reported by Reuters, as the BoJ Governor Kuroda continues to speak to the media after his meeting with the Japanese PM Abe.
Appropriate to patiently continue bold monetary easing under current framework.
Still distance to 2% inflation goal.
BoJ monetary easing will not end up hurting faith in the Yen.
Does not comment on selection of the next BoJ governor.
Will not comment on FX levels or daily movement in exchange rate.
But it is true that weak JPY puts upward pressure on inflation.
A weaker JPY raises cost of imports and lowers real income.
Weak prices are due to deflationary mindset.
Closely monitoring bond market, doesn't see any distortion at present.
BoJ bought about 105 tln yen worth of Y in year through October.