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Thursday, March 23, 2023

BOJ’s Kuroda offers slightly brighter view on inflation

BOJ's Kuroda offers slightly brighter view on inflation© Reuters. Bank of Japan governor Haruhiko Kuroda speaks during a seminar at the International Monetary Fund – World Bank Group Annual Meeting 2018 in Nusa Dua, Bali

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Thursday consumer inflation was “moving around 1 percent,” offering a brighter view on prices than he did three months ago.

“Japan’s economy is expected to continue expanding moderately,” Kuroda said in a speech to a quarterly meeting of the central bank’s regional branch managers.

“The BOJ will make necessary policy adjustments to sustain the economy’s momentum to achieve the price target … while looking at risks that warrant attention,” he said.

At his speech at the previous meeting three months ago, Kuroda had said inflation was moving around 0.5 to 1 percent.

Under a policy dubbed yield curve control, the BOJ guides short-term interest rates at minus 0.1 percent and the 10-year government bond yield around zero percent to achieve its 2 percent inflation target.

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Source: Investing.com

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