In the post-meeting press conference, the BoJ Governor Haruhiko Kuroda was noted saying that it is essential to continue current powerful monetary easing and fewer ETF purchases in August doesn’t mean a shift in policy.
Key quotes:
“¢ Will maintain the low-yield environment for an extended period.
“¢ Have maintained YCC policy, 10-year JGB yields target in this meeting.
“¢ Japan’s economy is expanding moderately and global growth is also continuing.
“¢ Expects the domestic economy to keep expanding and foresees a positive economic cycle going forward.
“¢ Too soon to assess effects from July changes on JGBs as summer period generally has less trading activity.
“¢ Expects CPI to pick up towards 2% target.
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