FXStreet (Mumbai) – Speaking in Osaka on Monday, Bank of Japan (BOJ) Governor Kuroda repeated the same old tune that the central bank will continue with the accommodative monetary policy settings as long as needed to achieve 2% price target.
Key Quotes:
Won’t hesitate to adjust policy if needed to swiftly achieve BoJ’s price target
Will maintain QQE for as long as needed to achieve 2 pct inflation target
Positive economic cycle must strengthen further for Japan to hit 2 pct inflation target
Pace of increase in capex, wages is lacklustre despite record corporate profits
Japan can hit 2% CPI target in 1st half of FY16
It takes time to change deflationary mindset of firms, households
BoJ will continue to strongly commit itself to overcoming deflation, achieving 2 pct price target
Fundamentals of Japan’s economy remain strong, QQE exerting intended effect toward pulling Japan out of deflation
Exports likely to remain flat for time being but resume gradual increase as emerging economies
Japan’s economy expected to continue recovering moderately
(Market News Provided by FXstreet)