Offcourse they deny now. Typically in this case you wait and see for a month to judge the impact of the price cut. You also dont want to give a impression or else 360 sales will slow.
At E3 they said they are gonna be the #1 selling console globally.....at least they meant just beating PS3. But we all know that to do this they need to drop the price themselves to make Europe sales even and for NA to groosly make up for the sales difference in Japan.