ETF boost was right choice – BoJ’s H.Kuroda

H.Kuroda, Governor of the Bank of Japan, has stressed that the recently announced boost in purchases of ETF to ¥6 tr from ¥3 tr was the appropriate choice of action.

He also added that the country could meet its inflation target in FY 2017 while the economy has been recovering at a moderate pace.

Kuroda has reiterated the readiness of the central bank to ease further if needed, opening the door for rates to fall deeper into negative territory, at the same time emphasizing that the current QQE programme still needs to reach its limits.

He has also argued that it is not appropriate to take incremental policy steps.

USD/JPY remains in the 103.40 area, coming up from sub-103.00 lows in early trade.