Bank of Japan (BOJ) Gov Kuroda: Reiterates that virtuous cycle continues; domestic economy continues to recover modestly - post rate decision press conference
Growth
- Economic recovery is spreading to Japan's regions
- Lowered FY15/16 GDP forecast due to sluggish exports
- Slump in exports and industrial output temporary; Expects exports to continue moderate recovery, helped in part by weak yen.
Inflation
- Some board members more cautious about CPI outlook
- Reiterates can hit 2% inflation around H1 of FY16
- Reiterates Inflation expectations appear to be rising on the whole from long-term perspective