The Bank of Japan (BOJ) board member Harada is back on the wires pre-Europe open, via Reuters, commenting on the central bank’s monetary policy and inflation outlook.
Key Headlines:
Its true low rates are affecting financial institutions but doesn’t mean everything will be resolved if low rates are rectified.
No need to consider additional policy steps as BOJ’s yield curve control helps synergy effects with govt economic package.
Economy has taken a turn for better because BOJ sticks to 2% inflation target.
Thought BOJ’s JGB purchases could decrease when we adopted yield curve control.
2% inflation target is global standard, helping stabilise fx market.
The Yen is seen picking up fresh bids over the last hour, now sending USD/JPY southwards near 108.75 region. The spot faced rejection near 200-DMA of 108.88 on multiple occasion in Asia this Thursday.
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