The Bank of Japan’s (BOJ) Haruhiko Kuroda reiterated that the central bank “will ease policy further without hesitation as needed” while speaking at its post-monetary policy meeting press conference scheduled on Wednesday.
Additional quotes
Virtuous growth cycle is in place on the back of exports, factory output.
Price trends remain firm.
Will closely monitor economic situation in and outside Japan including tankan and branch managers' report.
Nervous moves are going on in global financial markets.
Will pay attention to market concerns on China Evergrande.
Corporate sector shows positive growth but household consumption remains weak.
China's economy is steadily growing, US economy rapidly recovering.
No need to anticipate that slowing US, China economies will cause external demand to falter.
US economy back at pre-corona levels, external demand should remain solid.
Market reaction
USD/JPY is seen challenging daily highs near 109.60 on Kuroda’s remarks and improving risk sentiment. The spot is recovering from weekly lows of 109.12, adding 0.35% on the day.
