Central Banks

The Bank of Japan meet next week, Monday July 30 and Tuesday July 31

This from Bloomberg on weekend comments from (or lack of I guess) from Bank of Japan Governor Kuroda 

  • declining to comment on reports that policy makers are considering measures to soften the side effects of their aggressive monetary easing campaign
  • Remarks on the issue wouldn’t be appropriate given the proximity of the bank’s monetary policy meeting, Kuroda said
  • “I know absolutely nothing about the basis for those reports” 

Given inflation developments … this me on Friday:

taking energy out and the inflation result is woeful if you are at the Bank of Japan. ICYMI the target for core (excluding food and energy) is sustainably around 2% y/y. If you take 2% and divide it by 10 you’ll get 0.2%, and that was the result announced today. Kuroda will not be happy. 


… given inflation developments it is very difficulty indeed to see a case building for exit from extraordinarily easing policy (some argue that that doing more of something that is not working (i.e BOJ easing is not hitting the CPI target) is a case to stop though).

Thus, yeah …. Kuroda sticking to script. 

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