Further comments by BOJ governor Kuroda on the day

  • Momentum for achieving 2% inflation is sustained
  • Improvement in output gap is steadily pushing up wages, prices
  • There is a chance inflation expectations may not heighten smoothly even as companies raise wages, prices
  • It may take considerable time for underlying price growth to lead to higher inflation expectations
  • It is hard to make accurate forecasts about future economic developments
  • Too much emphasis should not be placed on median BOJ forecasts
  • Giving detailed, articulate explanation of price moves will lead to more appropriate communication to the public

Still nothing new from Kuroda as he touches more on inflationary pressures and expectations in this segment of his speech.