BOJ’s Kuroda Steadfast

Bank of Japan Governor Haruhiko Kuroda said on Monday he saw no need to water down the bank’s commitment to achieve 2 percent inflation in two years, stressing that the country was on track to meet the target despite risks from soft overseas growth.

He also signaled the bank’s readiness to maintain its ultra-loose policy for as long as needed to sustainably achieve the inflation target, or expand stimulus further if the economy and prices sharply undershoot its forecasts.

Kuroda has faced a rift in the nine-member board with four voicing doubts about the BOJ’s rosy projections, including two skeptics of the price target who made unsuccessful proposals in October to water it down.

Reuters

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