Bank of Japan dep gov speaking in Japan 9 Feb

  • still a long way from price target
  • easing not aimed at FX rate but to achieve 2% price target asap
  • nations well understand BOJ's intentions for easing
  • BOJ decide operations by looking at market
  • will continue buying sufficient JGBs
  • daily bond operations don't suggest policy stance
  • importance of free trade is a shared understanding amongst G7/G20 nations
  • doesn't think protectionism will spread around the world
Maybe we have seen the bottom of Usd/Jpy
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