Japan on Track to Meet Inflation Target

Bank of Japan Governor Haruhiko Kuroda said on Tuesday that he sees no need to adjust monetary policy as the economy will continue to exceed its potential growth rate.

Kuroda, speaking to reporters, also said some temporary factors are behind recent weakness in exports, but exports will resume growing once these temporary factors fade away.

Kuroda reiterated that the economy is on track to meet the central bank’s 2 percent inflation target.  As widely expected, the BOJ voted unanimously to maintain its pledge of increasing base money, its key policy gauge, at an annual pace of 60 trillion to 70 trillion yen ($589-$687 billion).

Reuters

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