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MNI STATE OF PLAY: BOJ's Easy Views Intact Despite Higher CPI

(MNI) Tokyo
TOKYO (MNI)

BOJ Governor Haruhiko Kuroda repeated his views the rapidly weaker yen was undesirable.

Bank of Japan Governor Haruhiko Kuroda on Thursday said there is no reason to pull back from easy policy, although the board’s median forecast for inflation rates this fiscal year was revised up above the target of 2%.

But the board assess the higher inflation target was not sustainable as wages lag and growth was at the same time tipped down slightly , showing that price levels will not be achieved in the projection period in a decision widely expected, (See: MNI STATE OF PLAY:BOJ To Stand Pat On Policy, Forward Guidance).

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Bank of Japan Governor Haruhiko Kuroda on Thursday said there is no reason to pull back from easy policy, although the board’s median forecast for inflation rates this fiscal year was revised up above the target of 2%.

But the board assess the higher inflation target was not sustainable as wages lag and growth was at the same time tipped down slightly , showing that price levels will not be achieved in the projection period in a decision widely expected, (See: MNI STATE OF PLAY:BOJ To Stand Pat On Policy, Forward Guidance).

Keep reading...Show less