BOJ Gov Kuroda: Today's decison was NOT additional easing but to make it easier to continue QQE; reiterates that virtuous cycle is working as economy is recovering gradually - post rate decision press conference
- Exports are recovering with some weakness
- Inflation trend is improving and expects to meet 2% inflation target around 2nd half of FY16; timing of reaching target could change depending on oil prices
- Some gap in ending the deflationary mindset
- China economic slowdown is not threatening the 2% target; lower commodity will not make achieving the inflation target impossible
- Reiterates view that could adjust policy as necessary
- Notes that the Fed rate hike reflects a strong US economy; will watch effects