BoJ’s Kuroda: There are various uncertainties on inflation
|The Bank of Japan (BoJ) Governor Kuroda is on the wires now, via Reuters, making a scheduled speech in Parliament in Tokyo.
Key Headlines:
There are various uncertainties on inflation.
Cutting 2% inflation timing forecast is not linked to side effects of easing policy.
True some discussions are being made at BOJ board on side effects of easing policy.
Removal of timeframe in reaching the 2% target isn't necessary related to impact of easing policy towards bank profits.
BoJ bond purchases more sustainable under YCC policy.
BoJ's policy has also become more flexible with adoption of YCC.
BoJ has been able to achieve its yield targets, and JGB purchases have been smooth.
Inflation still a distance from target.
Won't say that BoJ will stick to 0% long-term yield target at all costs.
But can't think of changing 10-year yield target at all now.
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