BOJ’s Kuroda: The central bank must continue monetary easing to achieve its price target
Bank of Japan (BOJ) Governor Haruhiko Kuroda said Friday, the central bank must continue monetary easing to achieve its price target.
Additional quotes
Japan still hasn't achieved situation where inflation is stably, sustainably at 2%.
BOJ’s massive bond buying may be hurting market functions but we also need to maintain massive monetary easing.
Recent sharp, short-term forex moves are undesirable.
Premature to debate exit of ultra-easy policy.
Important for forex rates to move stably reflecting economic, financial fundamentals.
Japan's economy still in midst of recovering from pandemic's pain, so important to maintain powerful monetary easing.
BOJ’s median board forecast shows inflation won't stably reach BOJ’s target in fiscal 2023.
BOJ’s median board forecast for core-core consumer inflation shows inflation will steadily accelerate through 2024.
It will take some more time, but convinced Japan can achieve BOJ’s price target.
Market reaction
USD/JPY is back under 129.00, in reaction to BOJ Chief Kuroda’s comments. The pair is now trading at 128.88, still up 0.45% on the day.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
