BOJ's Kuroda: Fed's thinking is similar to the BOJ

Author: Justin Low | Category: Central Banks

Comments by BOJ governor, Haruhiko Kuroda

Kuroda
  • BOJ has already adopted overshooting commitment in 2016
  • Closely watching the impact of the coronavirus
  • Japanese economy is in severe state, but shows signs of picking up
  • Ready to take additional easing steps without hesitation if needed
  • Need to keep monetary conditions very accommodative
  • Fiscal, monetary policy mix is being effectively achieved
In case you missed it earlier this month, BOJ deputy governor Wakatabe had already reminded the market that the BOJ and the Fed are very much one in the same here.

Kuroda's remarks above are just a reiteration of that, but essentially it adds to the narrative that other central banks are also wanting to stay 'competitive' in the 'race to the bottom'. The BOE was the latest to sound their battle cry yesterday here.
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