BOJ Gov Kuroda: To maintain powerful monetary easing util inflation target achieved and will not hesitate to add if necessary - post rate decision press conference
- Domestic economy is picking up and expected to continue to recover; consumption is slowly increasing
- Q2 GDP not yet at pre-pandemic level
- Expecting underlying price pressures to rise
- CPI to undershoot 2% from the next fiscal year onward
- Weak JPY currency (Yen) impact varies on different sectors; weakness has been one-sided and fueled by speculative moves
- Rapid FX moves makes it difficult for companies to set business plans which is a negative for the economy
- Reiterates that BOJ will NOT raise interest rates at this time
- Will not rule out possibility of altering forward guidance in the future
- Funding conditions for small companies are improving
- To maintain accommodfative conditions for companies
- Closely watching financial markets
- Negative rates is not creating big problems (**Note: BOJ is the last of central banks with negative rates)