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the Bank revised down GDP and inflation outlook and pushed out the timeline of achieving 2% inflation target. • The details of Outlook Report and Kuroda's comments at the press conference were rather downbeat. The Bois policy does not appear preemptive any more. " We now believe that the BoJ will e
ard. Click here <https://markets.jpmorgan.com/research/email/pufu8f0b/ws0z1OaDs7aUCBn6gbooGA/GPS-1857160-0.pdf> for the full Note and disclosures. Tohru Sasaki (AC) <http://emaillink.jpmorgan.com/t/AQ/AAjClg/ABGDsw/aSEW-A/WA/ABTN7g/AQ/zTRS> Illa//emaillink.jpmorgan.com/t/AQ/AAjClg/ABGDsw/a5EW-A/WA/Dvw/AQ/zW
believe that the BoJ will eas= in November 2016, when the BoJ is expected to push out the time line agai=, although earlier easing is possible. • • Kuroda remained confident that there=the Bol has plenty of tools for additional easing, including an increase i= JGB purchases. <Forei=n Exchange> * * We
Click here <https://markets.jpmorgan.com/research/email/pufu8f0b/ws0z1=aDs7aUCBn6gbooGA/GPS-1857160-0.pdf> for the full Note and disclosures. <=p> Tohru Sasaki (AC) <http://emaill=nk.jpmorgan.com/t/AOJAAjC1g/ABGDsw/aSEW-A/WA/ABTN7g/AQ/zTRS> <=> 2 EFTA_R1_01598270 EFTA02481792 JPMorgan Chase Bank, N.A.,
the Bank revised down GDP and inflation outlook and pushed out the timeline of achieving 2% inflation target. • The details of Outlook Report and Kuroda's comments at the press conference were rather downbeat. The BoJ's policy does not appear preemptive any more. • We now believe that the BoJ will
and stocks. • Long-term prospect is less certain given we expect JPY to appreciate going forward. Click here for the full Note and disclosures. Tohru Sasaki (AC) JPMorgan Chase Bank, N.A., Tokyo Branch Takafumi Yamawaki JPMorgan Securities Japan Co., Ltd. Masaaki Kanno JPMorgan Securities Japan Co., L
Entities connected to both Kuroda and Tohru Sasaki

Jeffrey Epstein
PERSON
Richard Kahn
PERSON
JPMorgan Chase
ORGANIZATIONTakafumi Yamawaki
ORGANIZATION
Vicky Ward
PERSONBarrett
PERSONNov.2016 & USD/
ORGANIZATIONJ.P. Morgan Markets
ORGANIZATIONDaniel Saba
PERSON
Brad Wechsler
PERSONTokyo Branch
ORGANIZATIONJPMorgan Securities Japan Co., Ltd.
ORGANIZATION