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Kuroda: BoJ to continue easing until 2% inflation target reached

FXstreet.com (Barcelona) - Following the Bank of Japan´s decision to leave monetary policy unchanged in April and to increase the monetary base at a pace of JPY 60-70 trillion, the central bank's Governor Haruhiko Kuroda said that none of the board members favored additional monetary easing at the meeting.

Kuroda assured that the central bank would continue easing until the 2% inflation target was attained, which was most likely to happen in the latter half of the three years to March 2016 (in his own opinion in 2015).

The BoJ Governor also commented on the decision to improve the central bank's communication by extending the forecast period for the semiannual Outlook for Economic Activity and Prices, which was released earlier on Friday.

Forex Flash: Crowded positions have been flushed - Societe Generale

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Commodities Brief – Precious metal rally continues, crude holds above 93.00

Gold prices started Friday off with a positive surge, though this has clearly waned as of late during European trading. On the heels of a fresh BoJ reiteration of its stimulus program, the yellow metal was seen easing off its highs of 1476. In recent moments, the price of gold has moved to USD $1464.14 per oz., which still represents a strong gain on the day. Prolonged stability above the 1475 upside target will do much to lend confidence to a further gold rally that could eventually retake the 1500 barrier.
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