Kuroda going over the same old ground with his comments

Meanwhile USD/JPY back under 112.50, down more than 50 points from earlier highs.

The Nikkei isn't much changed, around +0.2% as I update

Kuroda:

  • Expansion of monetary base alone won't immediately push up prices, inflation expectations
  • Key transmission channel of QQE is to push down real interest rates
  • Inflation expectations have been somewhat weak lately
  • In long run, inflation expectations are rising