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MNI BRIEF: BOJ Kuroda: Easy Policy To Remain In Place

(MNI) Tokyo
TOKYO (MNI)

Bank of Japan Governor Haruhiko Kuroda said on Monday the 2% price target will not be achieved toward fiscal 2023, underlining the need to continue monetary easing under the current tools of Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control.

"Given that economic developments at home and abroad are expected to continue to be affected by the situation of COVID-19 for a while, the bank will closely monitor the impact of COVID-19 and will not hesitate to take additional easing measures if necessary," Kuroda told business leaders in Nagoya City.

"It is likely that the inflation rate in Japan will increase gradually toward fiscal 2023, by which time the pandemic is expected to have ended, but (we) will not reach the price stability target of 2% by then."

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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