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BOJ’s Kuroda says Japanese economy is recovering moderately
No prizes for guessing the rest of the statement; Kuroda’s presser underway but don’t expect any deviation from the mantra; can still effects of reaction to tax rise; expects impact of tax rise to wane gradually; CPI likely to reach 2% in middle of projection period; BOJ will check risks, make adjustments as necessary; BOJ easing is having intended impact; Japanese economy is continuing to exceed potential as a trend; expects consumer spending to remain resilient; employment and income situation recovering steadily; USDJPY not surprisngly still 104.85 on the repetition;
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