BoJ's Kuroda: 2% inflation target to be met in FY2015

By FXstreet.com | June 22, 2014 AAA

FXStreet (Łódź) - Speaking in Tokyo on Monday BoJ Governor Haruhiko Kuroda assured that the central bank's monetary policy easing was having the desired effect but that it could be modified if necessary.



Kuroda pointed out that Japan's economy was currently only halfway to BoJ's price target of 2% but that it was moving gradually moving towards the objective, which would most probably be met in financial year 2015. Easing would be continued until the 2% inflation was seen as stable.



He signaled that CPI was expected to slow down to 1% during the summer and then pick up from the second half of the year, stimulated by GDP gap improvement, rising inflation expectations.



The BoJ governor assured that Japan's potential growth rate didn't change the central bank's mandate and said that some time was still needed for the growth potential to rise. He expressed hope that the government would continue to steadily implement its growth strategy.



USD/JPY remained unmoved at 101.94 following Kuroda's remarks.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center