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

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.