Central Banks

Further comments by BOJ governor Kuroda

  • That is if momentum towards 2% inflation target weakens
  • Will continue with powerful monetary easing persistently
  • Mentioning timeframe could lead to misunderstanding related to policy
  • Inflation likely to hit 2% around fiscal year 2019
  • Outlook entails some certain uncertainties in general
  • Didn’t erase timeframe due to worries about having to delay it again
  • Mid to long-term inflation expectations not changing
  • Close attention must be paid to those expectations

Ah, there we go. The same old rhetoric.

He’s continuing to argue about why they removed the reference on the 2% inflation target for around fiscal year 2019 in the statement. I think that should be enough to do it, the market gets the message. He should really refrain from over-commenting in my view – otherwise he risks the occasional slip of tongue that we have seen in the past.

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