BoJ’s Kuroda: BoJ monetary easing will not end up hurting faith in the Yen

More comments reported by Reuters, as the BoJ Governor Kuroda continues to speak to the media after his meeting with the Japanese PM Abe.

Key Points:

Appropriate to patiently continue bold monetary easing under the current framework.

Still distance to 2% inflation goal.

BoJ monetary easing will not end up hurting faith in the Yen.

Does not comment on the selection of the next BoJ governor.

Will not comment on FX levels or daily movement in exchange rate.

But it is true that weak JPY puts upward pressure on inflation.

A weaker JPY raises cost of imports and lowers real income.

Weak prices are due to deflationary mindset.