BOJ’s Kuroda calls for ‘balanced’ approach to merits, demerits of easing

OSAKA (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank has entered a phase where it must consider not just the merits but the side-effects of its massive stimulus program in a “balanced manner.”

Wages and prices are turning up but achievement of the BOJ’s 2 percent target is taking more time than expected, Kuroda said.

“Under such a fairly complex economic and price situation, monetary policy must take into account various developments in a comprehensive manner,” Kuroda said in a speech to business leaders in Osaka, western Japan.

Mindful of the rising cost of prolonged easing, the BOJ took steps in July to make its policy framework more sustainable, such as by allowing bond yields to move more flexibly around its zero percent target.

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