18 Feb 2015
BoJ Kuroda press conference up next: View on Yen key market focus
FXStreet (Bali) - The BoJ maintained its policy steady on Wednesday, with an upgrade on output a positive development, while on the flip side, the Central Bank sounded cautious in private consumption, saying that in some areas has been sluggish.
There is not a great deal of changes to factor in Yen prices, with the main interest and playing a much greater role to move the Yen, being the BoJ Governor Kuroda news conference at 06.30 GMT, expected to offer fresh insights into his thinking on the Yen value, inflation, and the economy.
Nomura notes: ""We expect Governor Kuroda to maintain his view on JPY. He said on 9 February that "I do not think [a] weakening yen so far has caused problems for Japan’s economy overall after it corrected from excessive gains." Thus, he is likely to repeat his balanced view on JPY weakness, suggesting both positive and negative effects on the economy."
As per the prospects of further easing, Nomura adds: "Governor Kuroda is likely to repeat that the Bank will take action without hesitation if it judges that inflation is not moving towards its goal. After media reports on possible changes in the BOJ's stance on JPY weakness and further stimulus, an unchanged view from Governor Kuroda will likely be viewed as USD/JPY positive."
There is not a great deal of changes to factor in Yen prices, with the main interest and playing a much greater role to move the Yen, being the BoJ Governor Kuroda news conference at 06.30 GMT, expected to offer fresh insights into his thinking on the Yen value, inflation, and the economy.
Nomura notes: ""We expect Governor Kuroda to maintain his view on JPY. He said on 9 February that "I do not think [a] weakening yen so far has caused problems for Japan’s economy overall after it corrected from excessive gains." Thus, he is likely to repeat his balanced view on JPY weakness, suggesting both positive and negative effects on the economy."
As per the prospects of further easing, Nomura adds: "Governor Kuroda is likely to repeat that the Bank will take action without hesitation if it judges that inflation is not moving towards its goal. After media reports on possible changes in the BOJ's stance on JPY weakness and further stimulus, an unchanged view from Governor Kuroda will likely be viewed as USD/JPY positive."