Speaking at a press conference after the Bank of Japan (BOJ) monetary policy decision earlier this Tuesday, the Japanese central bank Governor H. Kuroda said the Japanese economy is expanding moderately as a trend.

Additional Quotes:

Economy to continue the expansionary trend through the fiscal year 2021.

Risks are skewed to the downside mainly due to overseas factors.

External risks are becoming smaller due to US-China trade deal.

Government economic stimulus package has helped to boost GDP outlook.

BOJ inflation outlook is more or less unchanged.

Inflation is to keep moving towards the 2% target level.

If momentum towards price target is at risk, would not hesitate to ease further

USD/JPY remains unfazed just below the 110.00 level on Governor Kuroda’s comments.