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BoJ’s Kuroda: Pickup in global growth likely to be delayed

Bank of Japan (BOJ) Governor Kuroda crossed the wires in the last minutes arguing that the pickup in global growth will likely be delayed. “Global risks remain elevated as uncertainty remains over fate of the United States (US)-China trade talks and Brexit,” Kuroda added.

The USD/JPY pair ignored these comments and was last down 0.15% on the day at 108.60. Below are some additional takeaways, per Reuters.

“Japan’s exports are weakening, though domestic demand remains firm.”

“As we have been saying, we will ease policy without hesitation if risks heighten over prospects for hitting the price target.”

“BoJ is mindful of potential side-effects on banking system from prolonged easing.”

“BoJ still has room to top up stimulus but what steps it will take will depend on the decision at each policy meeting.”

“We will analyse various data in deciding what to do at this month’s policy meeting, have no preset idea on decision.”

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