22 Jan 2014
BoJ's Kuroda: Current policy remain to as prices continue moving steadily towards goal
FXstreet.com (Łódź) - Following the Bank of Japan's decision to maintain monetary policy unchanged in January, Governor Haruhiko Kuroda said on Wednesday that no adjustments were warranted as prices remain on track to meet the 2% inflation target.
"Of course, there could be both upside and downside risks to the BoJ's price forecast but such risks have not materialized, and if that's the case, the current policy will continue," Kuroda assured, adding that he expected the 2% inflation goal to be reached in late 2014 through the 2015 fiscal year.
Furthermore, the BoJ Governor stated that downside risks to the Japanese economy were receding. The slow economic recovery in US and the Eurozone was gaining momentum, and the low inflation in Europe shouldn't weigh on price growth in Japan.
"Of course, there could be both upside and downside risks to the BoJ's price forecast but such risks have not materialized, and if that's the case, the current policy will continue," Kuroda assured, adding that he expected the 2% inflation goal to be reached in late 2014 through the 2015 fiscal year.
Furthermore, the BoJ Governor stated that downside risks to the Japanese economy were receding. The slow economic recovery in US and the Eurozone was gaining momentum, and the low inflation in Europe shouldn't weigh on price growth in Japan.