Further remarks by BOJ governor, Haruhiko Kuroda

BOJ Kuroda
  • Doesn't think another comprehensive review of monetary policy is needed
  • Aware of IMF's view that BOJ should conduct one, even after having done so in 2016

The IMF's proposal - and what many would suggest to the BOJ - is for the central bank to redefine its 2% inflation target, which just doesn't seem to be suiting the current shape of the Japanese economy when mixed with fiscal/monetary policies.

As mentioned earlier, it is a pipe dream for the BOJ to think that they can achieve that target but as central bank chief, Kuroda has no choice but to put up this facade even though deep down he may not necessarily believe that they can really do it.