Bank of Japan Governor Kuroda speaking, expressing a degree of optimism on inflation moving towards the BOJ target (of 2%)
- Japan's economy is not in a state of stagflation
- rise in corporate wholesale prices not immediately translating into higher consumer inflation
- there's a chance consumer inflation may approach 2% through various channels
- what's desirable is for price rises to be accompanied by higher wages, rising corporate profits and economic recovery
- BOJ will patiently maintain monetary easing to achieve as soon as possible condition in which prices rise in tandem with economic recovery
Kuroda maintains the policy will remain easy. USD/JPY has dipped a few points on his inflation comment but only a few.
