Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Bank of Japan Governor Haruhiko Kuroda said Wednesday that while inflation is on a more positive upward trend it will take three years to reach a 2% target.
Unlike in earlier periods, "price cuts aimed at stimulating demand have not been widely observed" even despite the weakness related to Covid-19, he said. "This shows that underlying inflation has been steady."
"On the surface yes, the inflation rate in Japan is still low compared with inflation rates in Europe and the U.S., but the underlying trend is somewhat more positive, and we expect that the inflation rate will steadily go up and eventually reach" 2% inflation, he told a conference in Montreal via webcast.
"We still think that the inflation rate in 2023 will be less than 2%," he said. "Probably we need slightly more than three years to reach the 2% inflation target." Kuroda also affirmed the BOJ would do more if needed to keep inflation on track.