News Headline Summary

ADB's Kuroda says additional BoJ easing can be justified for 2013

Says:

- Monetary policy alone can achieve inflation target.
- Global standard is achieving inflation target in 2 years.
- JPY drop is natural adjustment from excessive value.
- A central bank should not be responsible for purchasing foreign currency bonds as that falls under FX policy.

Reaction details (05:32)

- No immediate reaction seen in USD/JPY, trades 92.63 (-7 pips) last.
- Just over 10 mins after these comments, USD/JPY gradually moved to reach the 92.68 level.

Analysis details (05:20)

- ADB's Kuroda is a potential BoJ candidate.

11 Feb 2013 - 05:17 - - Source: Newswires

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