BOJ governor Kuroda back across the wires 20 June 2016
- inflation expectations observed in practice are highly sticky and change only slowly
- firmly stabilising inflation expectations at desired level represents and unprecedented difficult challenge
- changing deflationary mindset absolutely necessary
- with the world full of uncertainty its difficult in practice to present central banks 'policy options for all contingencies in advance
- to date it is not sufficiently clear under what circumstances and through which mechanisms QE is effective
Seems like Kuroda still on an excuse-making mission. Mind you, he's not the only central banker on that course right now.
USDJPY a tad lower at 104.59. Support noted between 104.40-50