FXStreet (Mumbai) – Addressing lawmakers in the Japanese parliament, Bank of Japan (BOJ) Governor Haruhiko Kuroda acknowledged that recent economic data didn’t show any convincing picture of a recovery, albeit he argued that conditions were improving for inflation to head toward his 2% target.
His comments come a week before the BOJ monetary policy decision.
Key Quotes:
“It’s unavoidable for our inflation forecasts to fluctuate depending on oil price developments.”
“There has been various data coming out lately, which has shown a somewhat patchy picture of the economy,”
“There’s a good chance, however, that Japan’s economic growth will turn positive in July-September.”
“We’re not considering cutting or abandoning the 0.1% interest the BOJ pays on excess reserves financial institutions park with the central bank.”
(Market News Provided by FXstreet)