Bank of Japan (BOJ) Governor Kuroda told a forum of ecnomists in Tokyo that:
- The outlook on prices is generally bright
- Said falling oil prices will be good for the economy in the long run
- The rate of inflation will “approach the 2% target” in 2015
- Falling oil prices, while a factor in driving prices down, are “generally beneficial to the Japanese economy and will help prop up growth”
“Now is a crucial stage toward exiting deflation,” said Sadayuki Sakakibara, chairman of the business lobby Keidanren. “We at businesses must leverage [lower oil prices] to push up profit, jobs and wages.”
Report just in from the Nikkei this morning
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Must have been a breakfast forum … its 8am-odd in Tokyo …
“The forum was sponsored by Nikkei Inc., the Japan Center for Economic Research and TV Tokyo.”
