kuroda expressed confidence that deflation will come to an end. he says it's likely that the boj's 2% inflation target would be reached during the forecast period. >>> all right let's get a check and see how japanese shares responded to the boj decision. the nikkei average initially fell but that reaction was pretty short lived. as the outcome was in line with market expectations. at the close the index gaining there almost 0.2%, 15,820. in asia, most markets declined today. china's shanghai saw the biggest gain in two months as concerns eased about a credit squeeze in the country. in bangkok the s.e.t. index declined 0.2%. amid a state of emergency declined by the government. the bank of thailand announced it would maintain its key rate at 2.25%. some economists had predicted a rate cut to shore up the flagging economy. and european equities are moving at this hour. we're seeing declines across the board right now. london is lower by a tenth of a percent. frankfurt declining about 0.4%. paris' cac 40 losing a quarter percent. let's see what's goi

kuroda talked balt the japanese situation.urse, we also got thomas jordan, who was reluctant to be too critical about forward guidance, but is on the record about being quite negative about forward guidance and it's all for shaping monetary policy. as we went into the conversation, we had mark carney overnight, report that the uk perhaps was moving away a little bit from this idea of an unemployment threshold at 7%. and, of course, that was then my opportunity to bring this up with chancellor george osborne who appointed mark carney and say to him, well, are we going wobbly on forward guidance in the uk? is it fair to say that maybe forward guidance isn't the useful tool many thought it was projected as? let's listen to what he said. >> i completely reject that forward guidance is a failure. i think while the bank of england has done is provided clear communication, supported monetary policy that has assisted alongside the government's assets a very strong now set of data in the united kingdom. >> so a staunch defense there of

governor kuroda stressed that the nation's economy is steadily heading towards a 2% inflation target he set at the beginning of his tenure last year. that's all from nikkei business report. back to you. >> ewe caco, thank you and good evening. >>> shares of rio tinto trading higher. iron ore output to a record of 266 million tons. and rio expects to keep churning out higher levels of orders. ethan joins us now. it surprises me to see a big jump in production prices. clearly, they're betting on a fairly strong chinese demand. are they betting right? >> we think they are. steel production was a bit in the 0.5%. our riches slightly lower than the pref year's growth rate, but still, it is a very important number. so that extent, if they can't sell iron ore, no place can. >> but what about the supply side to this story? rio themselves is pushing their business towards iron ore. this is a limit, isn't it, for this business. >> yes. that's why the equity is playing a lower margin compared to some of the other miners. clearly, nine for nine orders is not a desire 7b8ble aspect, but from work

kuroda, the governor of the bank of japan, we were able town leash the first and second arrows.e now being reaped. it's true that what will become important going forward is the third arrow. what is important about the third arrow, structural refrnlgs is to convince those who resist the steps i'm taking and to make them realize that what i've been doing is correct. >> would it be fair, prime minister, to say given what you said, that the hard work is yet to come, that if we do not see very bold reforms, particularly in the labor market, in the ability to hire workers and fire them much more freely, that the third arrow will have failed? >> i also believe the labor market is extremely important. at the same time the general public is very sensitive about issues related to the labor markets. so it is important that we explain things to them carefully. i will change the labor market to make it more flexible for those who have specific professional expertise and for women and for those who want to rebalance their personal and professional lives. and i will also change japan so that

he hired corrode a --k kuroda. year was aause last lot of opportunity.n his approval ratings were approaching 80% he should have been doing a lot to improve the economy. it is now below 50%. the second thing is he is looking for growth in the wrong places. he is trying to sell nuclear the worldts around and change secrecy laws. he is focusing on the economy. his arty focusing on nationalists. good thing to do. his arty focusing on tweaking textbooks that will upset china and south korea. how he ise talk about making the bold decisions, they focused on japan. it.n will be joining it is demanding his collusion for things like agriculture and automobiles which is the whole game. askingle country will be for the japan treatment which waters down the entire enterprise if you will. there is a lot that has to be done. a lot think that should be rising without tangible steps. to me it is a bit of the reach. ones.is the tangible thank you so much for that. thes turn our attention to markers. since we have just finished talking about a lot of the excitement for th

osborne, the uk chancellor, thomas jordan, chairman of the swiss national bank, larry summers, haruhiko kuroda, governor of the bank of japan and alexandre tombini. jack lew coming up at 6:45 eastern and 12:45 tada santa rosa time. u.s. futures mixed yesterday. the dow down 41. ibm accounting for all of the losses now, another 35 points below fair value. the nasdaq since hitting the july 200 is nearly two points above fair value and the s&p 500 at the moment is around 4 points below fair value. the next part of "worldwide exchange" coming up. fifteen minutes could save you fifteen percent or more on car insurance. everybody knows that parker. well, did you know auctioneers make bad grocery store clerks? that'll be $23.50. now .75, 23.75, hold 'em. hey now do i hear 23.75? 24! hey 24 dollar, 24 and a quarter, quarter, now half, 24 and a half and .75! 25! now a quarter, hey 26 and a quarter, do you wanna pay now, you wanna do it, 25 and a quarter - sold to the man in the khaki jacket! geico. fifteen minutes could save you... well, you know. of the dusty basement at 1406 35th street the old dinin