Technical Analysis

BOJ’s Kuroda: CPI growth likely to fall below 2% target in the next fiscal year

  • Will continue to put all effort into achieving price target
  • It is extremely unfavourable that Japan’s inflation oustrips wage growth

The headline remark suggests that we are not likely to see a BOJ pivot of sorts this week but considering how futile the intervention attempts have been to pin down USD/JPY, could this be a bit of a bait? It’ll be highly uncharacteristic but then again, central banks these days have little to no integrity and they are only as good as the last word you can take them for.

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