Bank of Japan Governor Kuroda says target ‘is still a long way off’

BOJ's Kuroda spoke over the weekend and indicated, again, its full steam ahead on easing at the bank'

• "The Bank of Japan will consistently pursue aggressive monetary easing with a view to achieving the price stability target at the earliest possible time"

Why?

• "Achieving the 2% target is still a long way off"

No surprises then from K. This is a the same gist of the comments we have had from him consistently.

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Its early on Monday and I don't want to go off on too much of a tangent, but you will hear the Bank of Japan is 'tapering' its purchases of JGBs - the bank is not close to it s80tln yen buy target. The target is now irrelevant - the Bank of Japan is targeting Yield Curve Control, buying what it deems necessary to keep long rates on target.

Kuroda posed for Victor Leonardi for this one ;-)