BOJ Governor Kuroda: Won't hesitate in policy to achieve inflation target ASAP

Author: Eamonn Sheridan | Category: Central Banks

Bank of Japan (BOJ) Governor Kuroda comments

He is appearing in parliament today

  • See excessive risk-aversive moves in markets
  • BOJ will closely watch how market moves affect Japan's economy
  • Will take appropriate action if needed, recent FX moves very rough
  • Won't hesitate taking policy action to achieve price target at earliest date possible

More:

  • Still half way toward achieving 2% inflation target

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Kuroda appearing in parliament, speaking before the Lower House Financial Affairs Committee

He will be back there later also:

  • From 3 pm local time (0600GMT)

More again:

  • Desirable for forex rates to move in way reflecting fundamentals
  • QQE, negative rate policy exerting intended effects
  • Positive effects of QQE, negative rate policy, on economy, prices to appear ahead
  • BOJ's  monetary easing may affect yen, stock moves by prompting investors to shift funds out of JGBs and into stocks, foreign bonds
  • Main transmission channel of our policy is to push down yield curve, lower real interest rates by heightening inflation expectations
  • Recent risk-aversive moves are excessive, out of line with fundamentals
  • Don't think BOJ is taking incremental approach on monetary easing
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