BOJ governor Kuroda steps up for his press conference 28 April
- weakness in output, exports due to developing nations
- Japanese corp sentiment seen at favourable level
- inflation expectations have weakened lately
- CPI to hit 2% during FY 2017
- hard to see positive impact of mon pol due to uncertainty about overseas economies
It's pass-the-buck time again for BOJ and other central banks
- decided at this meeting BOJ needed more time to monitor impact of mon pol
- will not hesitate to easing steps on 3 dimensions if needed to achieve 2% target
Yen pairs collapsing again as Europe gets underway and Kuroda offers little comfort to yen doves.
USDJPY 108.29 EURJPY 122.98
