21.01.2016 - We are waiting for the correction of the yen price

Today the head of the Bank of Japan Haruhiko Kuroda said about maintaining inflation target of 2.0%. According to him, the price trend in the country is steadily improving, fundamentals remain positive and now the bank is not considering using negative interest rates. It is worth noting that the demand for the Japanese yen remained elevated in recent years due to the fall in commodity and stock markets, but according to our estimates, after stabilization of the situation, the yen will resume decline. We maintain a medium-term negative outlook on the yen.

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