Bank of Japan Governor Haruhiko Kuroda expressed confidence Friday that Japan will achieve its target of 2 percent inflation.
“Japan’s economy has been following a path toward achieving the 2 percent price stability target as expected,” Kuroda said during his speech at the London School of Economics and Political Science. “Of course, we are only halfway there and will steadily pursue the QQE (quantitative and qualitative monetary easing).”
Delivering his speech in English, he said, “Japanese firms that originally were equipped with excellent technologies and human capital have started to take on new initiatives again, and the economy and prices have changed dramatically…The day that Japan’s economy can contribute more and more to the global economy is at hand.”
After Kuroda took up his post on March 20 last year, the central bank introduced a set of monetary easing measures in April aimed at hitting the 2 percent inflation target to beat deflation, including additional purchases of government bonds and higher-risk financial assets such as exchange-traded funds.
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