8 Apr 2015
Kuroda’s view on inflation outlook unchanged - Nomura
FXStreet (Bali) - Kuroda’s view on inflation outlook was unchanged during Wednesday's press conference, notes Yujiro Goto, FX Strategist at Nomura.
Key Quotes
"There were no major surprises at Mr Kuroda’s press conference. Even though inflation has been slowing, Governor Kuroda remains optimistic on the inflation outlook, as mid- to long-term inflation expectations remain resilient, the labour market is tightening and the output gap is at about 0%, the negative impact from the oil price decline will fade, and the higher wage negotiation result than a year ago will be positive for inflation."
"Governor Kuroda said risks to prices are low compared with before the October meeting when the Bank added monetary stimulus, suggesting the likelihood of further easing at the 30 April meeting was low. Discussion of Mr Kiuchi's new proposal at the press conference was very limited, and Governor Kuroda just repeated that it was premature to discuss exit policy."
Key Quotes
"There were no major surprises at Mr Kuroda’s press conference. Even though inflation has been slowing, Governor Kuroda remains optimistic on the inflation outlook, as mid- to long-term inflation expectations remain resilient, the labour market is tightening and the output gap is at about 0%, the negative impact from the oil price decline will fade, and the higher wage negotiation result than a year ago will be positive for inflation."
"Governor Kuroda said risks to prices are low compared with before the October meeting when the Bank added monetary stimulus, suggesting the likelihood of further easing at the 30 April meeting was low. Discussion of Mr Kiuchi's new proposal at the press conference was very limited, and Governor Kuroda just repeated that it was premature to discuss exit policy."