More comments flowing in from Bank of Japan Governor Haruhiko Kuroda, as he now sheds some light on the central bank’s inflation outlook.
Unless energy prices drop sharply, Japan's core CPI is likely to remain around 2% for about 12 months.
BOJ will continue to work closely with government, strive to achieve 2% inflation target.
Prices won't rise sustainably, stably unless accompanied by wage hikes.
Market reaction
USD/JPY is testing daily lows near 126.70, down 0.34% on the day. The move lower in the pair is mainly driven by the broad-based US dollar sell-off in Asia, as the Japanese authorities continue with their verbal intervention.
