News Headline Summary

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

Says:
- 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 (02:37)

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

Analysis details (02:33)

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

12 Feb 2013 - 02:29 - Forex - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: