BOJ governor Kuroda still on the wires, as he speaks at his confirmation hearing at the upper house in parliament
- There is still distance to 2% inflation target
- Monetary policy can't affect prices - which moves on various factors in the short-term
- BOJ is mandated to achieve price stability
- Will use all tools available to achieve this mandate
More of the same stuff from Kuroda so far. Nothing new, really.
His comments today are more of the same that we know of the BOJ and Kuroda himself. It's a bit of a contrast to the mess from his comments last week in the lower house hearing.
The main takeaway today will be that he said there is no chance of the BOJ actually scaling back on stimulus before the 2% inflation target is reached, and that the central bank will do whatever it takes to meet that target.
More so, is that he didn't repeat any part of the comments from last week here which created much confusion in the market. And that sums up what his stance is, and how the BOJ currently views its current policy.
