Bank of Japan Governor Kuroda
- Japan's economy picking up
- Japan's economy likely to recover as impact of supply constraints, pandemic eases
- Japan's economy likely to recover as impact of supply constraints, pandemic eases
- Uncertainty regarding Japan's economy extremely high
- Must be vigilant to impact of fx, market moves on economy, prices
- BOJ will maintain easy monetary policy to sustainably, stably achieve 2% inflation accompanied by wage growth
- Japan's consumer inflation likely to slow back below 2% next fiscal year
Japan's consumer inflation recently exceeded 2% but that is almost entirely driven by firms passing on rising import costs to consumers
Must leave room for policy response to ensure japan never returns to deflation
We may be seeing slight signs of changes in firms' cautious sentiment that was behind prolonged deflation
rapid, one-sided forex moves are not desirable
BOJ policy decisions take into account various factors, including the impact of forex moves on the economy
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Nothing in these comments indicate a change in policy from the BOJ is coming any time soon.
ps. Japan's fiscal year begins on April 1.
