Comments from Bank of Japan Governor Kuroda:

  • Japan's economy recovering moderately as a trend, prices are rising
  • Oil price falls, government's stimulus package to help keep Japan's economy on moderate recovery trend
  • BOJ will not respond to oil prices themselves but will monitor how they affect inflation expectations
  • 2 pct inflation likely to be achieved around Fiscal year 2015 assuming oil prices rise moderately

More:

  • It was important to attach time frame for hitting BOJ's target given unique situation facing Japan
  • To push inflation to 2 pct, we needed to have speed and momentum to change people's expectations
  • There's no single measurement that appropriately reflects price trend
  • Japan making steady progress in wiping our deflationary mindset
  • BOJ was able to prevent delay in eliminating mindset with its October easing
  • 2 pct inflation likely to be in sight once effect of oil price falls disappears
  • BOJ won't hesitate to adjust policy when there are changes in trend inflation

Headlines via Reuters