Bank of Japan (BOJ) deputy governor Hiroshi Nakaso is now crossing the wires, backing the case for accommodative policy stance, while expecting that the Government efforts to stimulate growth should start materializing.
Key Quotes:
Wants to see govt growth strategy take off
Need easing, structural reform for sustained growth
Need to raise japan labor productivity
Deposit rates won’t become negative
Lower yield curve hurts lender profits
Private demand to rise on negative rate effects
More quantity, quantative steps future options
Core CPI to reach 2% around 1st half of fy17
Drop in int rates to steadily affect econ, prices
Underlying price trend to rise steadily
(Market News Provided by FXstreet)