BOJ’s Kuroda: Risks to Japan’s economy, prices skewed to downside
|The Bank of Japan (BOJ) Governor Haruhiko Kuroda voices the same concern expressed by a senior central bank official Seiichi Shimizu earlier this Friday, citing that the risks to the Japanese economy and the inflation outlook remain skewed to the downside.
Additional quotes
Cannot say there is nothing more monetary policy can do.
It may take time but the BOJ must achieve 2% inflation by helping expand the positive output gap, prop up inflation expectations with a commitment to expand base money until inflation stably above 2%.
By stressing BOJ’s commitment to hit 2% inflation, it hopes to push up inflation expectations and lower real interest rates.
BOJ’s March review will include economic analyses on why inflation has not sufficiently picked up.
The BOJ will release in March its findings on how to more effectively achieve its price goal, make its policy sustainable.
USD/JPY regains 106.00
USD/JPY bounces-back above the 106 level, tracking the strong bounce in the US dollar across the board while the Treasury yields attempt a pullback.
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