BoJ's Kuroda: Essential to continue current powerful monetary easing

In the post-meeting press conference, the BoJ Governor Haruhiko Kuroda was noted saying that it is essential to continue current powerful monetary easing and fewer ETF purchases in August doesn't mean a shift in policy.

Key quotes:

   •  Will maintain the low-yield environment for an extended period.
   •  Have maintained YCC policy, 10-year JGB yields target in this meeting.
   •  Japan's economy is expanding moderately and global growth is also continuing.
   •  Expects the domestic economy to keep expanding and foresees a positive economic cycle going forward.
   •  Too soon to assess effects from July changes on JGBs as summer period generally has less trading activity.
   •  Expects CPI to pick up towards 2% target.