BOJ's Kuroda: There is a need to achieve 2% inflation target
Further comments by Kuroda
- Target is necessary to achieve stable prices
- Not desirable for economy if only prices rise
- Also need to consider that easing policy could affect financial intermediation
- Need more time to see overall movement in wages
- Spring wage negotiations still ongoing, still too early to see the whole picture
Nothing new coming from Kuroda here although he seems a tad bit optimistic about the spring wage negotiations. He says that historically, wages have been rising for the past six years. Really? Even so, the inflation picture clearly isn't reflecting that.