BOJ governor Kuroda begins his press conference 20 July
- risks to prices and economy tilted to the downside
- will adjust mon pol as needed to maintain price momentum
- board members Kiuchi, Sato made proposal based on the view that inflation won't hit 2% in 3-year f/cast period under report. Rejected by board.
- companies more cautious on raising prices but don't expect this to continue forever
- USDJPY had a quick look above 112.20 only to fail again. Currently 112.10
