News Headline Summary

Japan PM Abe says it is possible to reach 2% price target with monetary policy

- Calls on BoJ to do all it can to fight deflation.
- Achieving a 2% target alone is not enough, must be accompanied by strong economic growth.
- Japan's currency is correcting.
- Correction of FX moves driving up corporate profits which will help increase wages.

Reaction details (01:37)

- No immediate reaction seen in USD/JPY, trades 94.25 (-4 pips) last.

Analysis details (01:33)

- These comments are a reiteration of Japan's inflation target rate.
- BoJ's next meeting is scheduled for February 14.

12 Feb 2013 - 01:29 - Forex - Source: Newswires

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