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).
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 firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.