The BOJ presser has begun financial conditions are accomodative in Japan; see Japan’s moderate recovery continuing; will remain on track after sales tax hike; consumer prices to hit 2% goal around middle of forecast period; will adjust policy as required; QE having its intended effect; will continue easing until 2% inflation is stable; USDJPY down to 6 month lows 100.90 in a rush but I’m obviously not getting the translations fast enough as there’s nothing here so far that’s new, but I should think the lack of any direct reference to additional easing measures is enough to frighten off the yen bears private ... (full story)