BOJ’s Kuroda: CPI growth beyond next FY likely to fall below 2% target

“Consumer Price Index (CPI) growth beyond the next Financial Year (FY) is likely to fall below 2% target,” said Bank of Japan (BOJ) Governor Haruhiko Kuroda early Monday.

Additional comments

Will continue to put all effort into achieving price target.

It is extremely unfavorable that Japan’s inflation oustrips wage growth.

Japan’s economic recovery from pandemic has been slow compared with other countries.

Must support Japan’s economy and achieve inflation in tandem with wage growth.

USD/JPY traders take a breather

USD/JPY maintains the 30 basis points (bps) trading range around 149.00 following a volatile start to the week which initially refreshed a fortnight low before recalling the buyers.

Also read: USD/JPY steadies around 149.00 after rollercoaster moves on alleged Japan intervention