Bank of Japan governor Kuroda speaking at a WSJ event 16 May

  • if any country introduces protectionist measures it would that that country as well as global growth

Mmmmm, I wonder where he's pointing that finger ?

  • Japan's inflation rate is still quite low
  • BOJ mon pol is targeted at achieving 2% price target at earliest possible time
  • open to more stimulus if inflation target isn't met
  • yield curve control is appropriate at this time
  • not too concerned about normalisation of Fed policy as it reflects strength of US economy
  • US/Japan mon pols are tailor-made to each country's economic and financial developments,natural that the directions are different
  • at this stage BOJ is not exiting extraordinary easing programme

USDJPY nudges a little higher to 113.54, yen pairs higher too, on the slightly dovish tones but nothing new here.

BOJ's Kuroda: US/Japan mon pols are tailor-made to each country's needs