More from BOJ governor Kuroda at his confirmation hearing at the upper house in parliament
- BOJ will do whatever it takes to hit inflation target
- Downside risks on expectations to hit inflation target remains high
- Wage growth is important factor for determining whether or not deflation is beaten
- Can't weaken degree of monetary easing or end easing policy when inflation is yet to reach its target
- BOJ will continue appropriate monetary easing until inflation target is met
- BOJ will take all necessary steps to achieve inflation target
- As seen in Fed's example, there will be a debate on exit strategy once inflation target is met
- BOJ is doing brainstorming on how a future exit could affect its balance sheet
- It is true that BOJ's asset holdings are very large
- Doesn't feel that BOJ's position is in a serious state
A little less ambiguous this time around, which makes you wonder why did he make comments such as these last week - especially in saying that "there could be policy change before the 2% inflation target is achieved".
I believe Kuroda has certainly seen the market reaction to his comments last week and has taken notes on how to go about in communicating his intended message this time around.
A lot more clarity and certainty from his comments today. Bottom line is that the BOJ will not act until the 2% inflation target is met - whenever that is.
