BoJ's Kiuchi: Somewhat cautious on price outlook

By FXstreet.com | July 30, 2014 AAA

FXStreet (Bali) - BoJ member Kiuchi is crossing the wires, saying that Japan's economy is recovering moderately.



Further headlines included:



- I am somewhat cautious on price outlook than BoJ's medium projection



- Effect of sales tax on household spending is likely temporary



- Uncertain on whether upward price pressure from narrowing output gap will exceed downward pressure from fading weak yen effect



- Gap between underlying inflation and medium to long term inflation expectations seems to have narrowed to a considerable extent



- Long term efforts to boost growth potential necessary for Japan to hit 2.0% growth target



- Paying attention to downside risks to growth



- Says Japan exports are moving sideways due partly to soft emerging economic growth



- See downside risks to Japan’s economic growth outlook



- Price gains have been strongly influenced by weak yen



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