Japan BOJ Kuroda: Japan economy on track but won't hesitate to adjust policy if necessary; BOJ monthly purchase of JGB in range of ¥6-8T - post rate decision press conference
- BOJ to continue JGB bonds in flexible manner
- Loan program expansion aimed to boost QE transmission mechanism.
- Expects loan program to be big plus for lending.
- Expects export to pick up gradually and current account to improve.
- Expects production gap to narrow and turn positive ultimately.
- Do not expect external demand to continue falling sharply.
- Consumption likely to stay firm as jobs and income conditions continue to improve.
- GDP data confirms positive mechanism, virtuous cycle still works.
- BOJ met 2.7% growth target.
- Unchanged views on global economies.
- Decision on double lending incentives partially to make policies easy to digest.
- Q4 weak external demand due to imports rise implies strong domestic demand.
- Source TradeTheNews.com