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29 Jan 2016
BOJ decided negative rates to avoid hurting business sentiment - Kuroda
FXStreet (Mumbai) - Bank of Japan (BOJ) Governor Kuroda is now on the wires, speaking at the BOJ press conference, explaining the reasons behind today’s unexpected rate cut decision.
Key Quotes:
Will lower rates further if needed
Today’s decision will allow easing of policy on 3 dimensions
3-tiered structure designed to maximise impact of negative rates
Will continue QQE with negative rates as long as needed to meet price goal
Expect negative rates to spread through economy, push down yield curve
Will examine risks to econ, prices, and will not
hesitate to take additional easing steps if needed
Japan's economy has continued to recover moderately
Underlying inflation has been improving steadily
Expect Oil price to make negative contribution to CPI until end of fiscal 2016
Global financial markets showing signs of uncertainty
Key Quotes:
Will lower rates further if needed
Today’s decision will allow easing of policy on 3 dimensions
3-tiered structure designed to maximise impact of negative rates
Will continue QQE with negative rates as long as needed to meet price goal
Expect negative rates to spread through economy, push down yield curve
Will examine risks to econ, prices, and will not
hesitate to take additional easing steps if needed
Japan's economy has continued to recover moderately
Underlying inflation has been improving steadily
Expect Oil price to make negative contribution to CPI until end of fiscal 2016
Global financial markets showing signs of uncertainty