BOJ’s Kuroda: Appropriate monetary policy, management of output gap needed for reaching 2% price target
|Additional headlines crossed the wires from the BOJ Governor Kuroda, via Reuters, as he extends his speech in Parliament today.
Headlines:
No comment on desirable level of FX
FX policy is the finance ministry's responsibility
Monetary policy is for stabilising inflation
Appropriate monetary policy, management of output gap needed for reaching 2% inflation target
Various factors affect FX, not just interest rates. But long-term US rates are seen on an upward trend.
There is a time lag in fx effect on inflation; weak yen will help raise prices in FY2017
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