BOJ Kuroda Says Economy is Continuing a Moderate Recovery

The Japanese economy is continuing a moderate recovery, although effects of slowdowns in emerging economies have been seen on exports and production, Bank of Japan Gov. Haruhiko Kuroda said Monday.

The remark, made at a quarterly meeting of Bank of Japan branch managers, was in line with his previous economic assessment.

Kuroda also said the year-on-year growth rate of Japan’s core consumer price index, which excludes fresh food prices, is expected to remain almost flat for the time being.

The central bank will keep its quantitative and qualitative monetary easing policy unchanged as long as needed to achieve its 2 percent inflation target, Kuroda emphasized.

He highlighted the central bank’s plan to inspect risk factors for the economy and prices and conduct necessary adjustments to its policy management.

Economic views unchanged

The Bank of Japan kept its economic assessments for all nine regions in the country unchanged from three months before, in a quarterly report released on Monday.

The assessments reflect a rise in capital spending and solid private consumption, the central bank said.

It was the first time since July 2014 for the Bank of Japan to maintain its views on all nine regions.

via Japan-News

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza