Bank of Japan (BOJ) Governor Kuroda speaking to the Keidanren business group on the state of the economy.
Comments hitting the wires finally (via Reuters):
- Japan firms becoming more active in spending on equipment, hiring
- Japan inflation expectations rising as a whole
- Risk of renewed yen rise from interest rate gap with other nations will diminish if Japan inflation hits 2 pct
- Private consumption firm as a trend reflecting steady improvement in job, income conditions
- Japan making steady progress in shaking off deflation mindset, want to scrutinise wage negotiations
- BOJ’s October easing wasn’t directly in response to oil price falls
- Japan economy benefits a lot from falling oil prices that is largely due to supply factors
- Oil price falls may weigh on overall prices short-term, but will lead to uptrend in prices in long-term
- Hope BOJ’s strong commitment to price target affects spring wage negotiations, firms’ price-setting activities
- Real wages likely to recover, Japan firms to benefit from weak yen and commodity price falls next year
Full text of the speech: Speech by Governor Kuroda at the Meeting of Councillors of Nippon Keidanren (Welcome to the “2 Percent” Club)
