The Bank of Japan held off on expanding stimulus on Tuesday despite once again pushing back the timing for hitting its inflation target, signalling that it will keep policy unchanged unless a severe shock threatens to derail a fragile economic recovery.
Following are comments from BOJ Governor Haruhiko Kuroda at his post-meeting news conference:
“Medium- to long-term inflation expectations remained weak, which is one of the reasons behind the delay (in the timeframe for achieving the price target).”
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