BOJ’s Kuroda: Will keep supporting funding of companies

Bank of Japan (BOJ) will keep supporting the funding of companies closely watching the coronavirus pandemic situation, said Governor Haruhiko Kuroda in his scheduled press conference after the monetary policy decision announced earlier this Thursday morning.

Further comments

Japanese economy started to pick up -exports, production picking up.

Business investment on declining trend -improving in economy only moderate

Economic outlook is on a recovery trend -price expectations weakening.

Inflation going back to positive territory.

Will not hesitate to add easing if necessary.

Market reaction

USD/JPY extends the drop below 105.00, mainly driven by broad US dollar retreat. The yen markets are unperturbed by the above comments from Governor Kuroda. The spot drops 0.11% to 104.83, as we write.