Bank of Japan (BOJ) Governor Kuroda is speaking today: “Public Policy Study and Monetary Policy Management” . His speech is at the Graduate School of Public Policy, the University of Tokyo.

Headline comments:

  • QE has been producing anticipated results, the economy is following path of meeting the BOJ’s price target
  • BOJ will continue QE for as long as needed to achieve price target in stable manner
  • Any exit from prolonged monetary easing could be challenging, be it conventional of unconventional policy
  • Offering too complicated forward guidance may be less efficient, sometimes even disruptive, for markets
  • The chance of the eurozone going into deflation is ‘quite low’

His full speech is here (PDF)

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Added – Reuters report available now