Technical Analysis

BOJ’s Kuroda: We have absolutely no intention to hike rates, tighten policy

  • Not thinking about revising the 2013 joint statement between the government and BOJ
  • Cannot yet foresee 2% inflation
  • Says no comment on rise in 10-year JGB yields to ~0.4% today

In the case of Japan, it is typically unlikely to see rumours or whispers do the rounds if there aren’t some hints of truth to them. So, as much as Kuroda wants to deny any change in policy stance, actions might speak louder than words and today’s move certainly doesn’t help his case.

Japan nationwide consumer price inflation climbed to a 40-year high in November and if that trend continues, it might only be so long before the BOJ has to relent on whatever gibberish that they are offering up now.

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