MNI BRIEF: BOJ Kuroda Reiterates Consumer Prices Up As A Trend

Bank of Japan Governor Haruhiko Kuroda on Wednesday said consumer prices are picking up gradually as a trend and reiterated the outlook for Japan’s economic recovery at a quarterly branch managers’ meeting.

"Japan’s economy has picked up as a trend,” although it has remained in a severe situation, Kuroda said, adding that the economy is likely to recover and it is projected to continue growing, MNI INSIGHT: BOJ Sees 2% Price Target Nearer With Wages Key.

“For the time being, the BOJ will closely monitor the impact of Covid-19 and will not hesitate to take additional easing measures if necessary, and also it expects short- and long-term policy interest rates to remain at their present or lower levels,” Kuroda said. Financial conditions have been accommodative overall, although weakness in firms’ financial positions has remained in some segments.