Bank of Japan governor's presser now underway. •expects negative rates to spread through economy, push down yield curve •3-tiered structure designed to maximise impact of negative rates •will continue QQE with negative rates as long as needed to meet price goal •expects oil price to make negative contribution to CPI until end of fiscal year 2016 •global markets showing signs of uncertainty Even more so now I'd say after the BOJ's move USDJPY higher on the headline. Currently 120.74. EURJPY 131.66 helping to underpin EURUSD and other yen pairs. BOJ decided on negative rates to avoid hurting business sentiment (full story)