Economic and price trends have turned favorable, thanks to the stimulus efforts, and the coming year is set to see more progress, Bank of Japan Governor Haruhiko Kuroda said Thursday.
In a speech in Tokyo, Kuroda said many people were skeptical regarding the prospect of Japan’s economy overcoming deflation and achieving the price stability target of 2 percent, when the central bank launched its qualitative and quantitative easing policy more than two years ago.
“Some people may still be skeptical. But as I have mentioned earlier, economic and price trends have clearly changed under QQE,” Kuroda said. “This is an indisputable fact.”
He also expressed confidence that 2016 will be a rewarding year and said the Japanese economy will continue its march towards a new phase of growth.
Kuroda also reiterated the BoJ’s “unwavering determination to do whatever it takes to overcome deflation and achieve the price stability target of 2 percent”.
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