Skip to main content

HIGHLIGHTS-BOJ Governor Kuroda comments at news conference

The Bank of Japan kept monetary policy steady on Friday and offered a slightly more upbeat view on overseas growth, signalling confidence the economy is on course to meet its inflation target next year without additional stimulus.

_0">

Following are comments from BOJ Governor Haruhiko Kuroda at his post-meeting news conference:

ON JAPAN'S ECONOMY:

"The economy is moving roughly within our expectations. Household spending remains solid as a trend ... The positive cycle of the economy is firmly in place, accompanied by clear improvements in job conditions and income."

"We expect Japan's economy to temporarily contract in the second quarter (due to the sales tax hike impact). But more companies have decided to raise regular pay and summer bonuses are set to rise, so job and income conditions will continue to clearly improve.

"As such, we expect household spending to remain firm. The downturn in spending (in reaction to the rise ahead of the tax hike) will ease from around summer."

ON EXPORTS:

"While the economy is seen contracting in the second quarter, it is likely to steadily continue a moderate recovery driven mainly by domestic demand. I don't think the recovery lacks balance. One thing, though, is that exports have been somewhat weaker than what most people had expected, so we need to look at developments carefully."

"There's a chance the timing of an export recovery has been delayed somewhat. But I don't think exports as a whole will fail to recover."

ON PRICE TARGET, QQE PROGRAMME

"We're always closely watching price developments ... We are only halfway through (reaching) our price target, so we'll steadily proceed with our QQE programme."

_0">

"QQE is an open-ended programme so there's no pre-set date on how long it will last ... We won't end QQE in 2015 before 2 percent inflation is achieved or before such price growth is achieved in a sustained manner."

_1">

_2">

ON PRICE FORECAST OF BOARD MEMBERS AND MONETARY POLICY OUTLOOK:

_3">

"There are some differences (in the board members' forecasts) but I think we broadly agree that the Bank of Japan won't hesitate to adjust policy if upward or downward risks force us to alter our projections."

_4">

_5">

ON GOVT'S GROWTH STRATEGY:

_6">

"I understand that the government is accelerating implementation of its existing strategy and, after various discussions, crafting a new one. The Bank of Japan strongly hopes there is steady progress on these fronts."

_7">

_8">

ON ECB'S POLICY PACKAGE

_9">

"It's true inflation in the euro zone has been below 1 percent for more than six months and the output gap will weigh on inflation ahead. But the ECB has stressed that medium- and long-term inflation expectations are well anchored and is strongly committed to ensuring it stays that way.

_10">

"I think the latest package shows that determination. Given the region's economy is recovering moderately, I think the risk of the euro zone area as a whole slipping into deflation is small."

_11">

_12">

ON IMPACT OF ECB EASING MEASURES ON EURO/YEN EXCHANGE RATE:

_13">

"Japan is steadily moving towards the 2 percent price target but we're still halfway there. We also plan to continue QQE until 2 percent inflation is stably achieved. I therefore think there's no reason for the yen to strengthen much against the euro."

_14">

_15">

"I don't think there is a reason for the yen to strengthen against the euro from the ECB's stimulus package, including negative interest rates." (Reporting by Leika Kihara, Stanley White and Tetsushi Kajimoto; Editing by Chris Gallagher)

Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Thinking for Study Abroad USA. School of Charleston, the wonderful grounds is situated in the actual middle of a verifiable city - Charleston. Get snatched up by the wonderful and customary engineering, beautiful pathways, or look at the advanced steel and glass building which houses the School of Business. The grounds additionally gives students simple admittance to a few major tech organizations like Amazon's CreateSpace, Google, TwitPic, and so on. The school offers students nearby as well as off-grounds convenience going from completely outfitted home lobbies to memorable homes. It is prepared to offer different types of assistance and facilities like clubs, associations, sporting exercises, support administrations, etc. To put it plainly, the school grounds is rising with energy and there will never be a dull second for students at the College of Charleston. Concentrate on Abroad USA is improving and remunerating for your future. The energetic grounds likewise houses various

Best MBA Online Colleges in the USA

“Opportunities never open, instead we create them for us”. Beginning with this amazing saying, let’s unbox today’s knowledge. Love Business and marketing? Want to make a high-paid career in business administration? Well, if yes, then mate, we have got you something amazing to do!   We all imagine an effortless future with a cozy house and a laptop. Well, well! You can make this happen. Today, with this guide, we will be exploring some of the top-notch online MBA universities and institutes in the USA. Let’s get started! Why learn Online MBA from the USA? Access to More Options This online era has given a second chance to children who want to reflect on their careers while managing their hectic schedules. In this, the internet has played a very crucial in rejuvenating schools, institutes, and colleges to give the best education to students across the globe. Graduating with Less Debt Regular classes from high reputed institutes often charge heavy tuition fees. However onl

Sickening moment maskless 'Karen' COUGHS in the face of grocery store customer, then claims she doesn't have to wear a mask because she 'isn't sick'

A woman was captured on camera following a customer through a supermarket as she coughs on her after claiming she does not need a mask because she is not sick.  Video of the incident, which has garnered hundreds of thousands of views on Twitter alone, allegedly took place in a Su per Saver in Lincoln, Nebraska according to Twitter user @davenewworld_2. In it, an unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of the customer recording her. Scroll down for video An unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of a woman recording her A woman was captured on camera following a customer as she coughs on her in a supermarket without a mask on claiming she does not need one because she is not sick @chaiteabugz #karen #covid #karens #karensgonewild #karensalert #masks we were just wearing a mask at the store. ¿ o