Category: Economy

BOJ’s Kuroda says he is resolved to keep ultra-loose policy BOJ’s Kuroda says he is resolved to keep ultra-loose policy Bank of Japan Governor Haruhiko Kuroda speaks during a news conference after a meeting of G7 leaders on the sidelines of G20 finance ministers’ summit on the outskirts of Bengaluru, India, February 23, 2023. REUTERS/Samuel Rajkumar 25 Feb 2023 11:13PM (Updated: 25 Feb 2023 11:13PM) Bookmark WhatsApp Telegram Facebook Twitter Email LinkedIn Bank of Japan (BOJ) Governor Haruhiko Kuroda on Saturday stressed anew the central bank’s resolve to maintain ultra-loose monetary policy, even as inflation continued to exceed its 2 per cent target. Japan’s core consumer inflation hit a fresh 41-year high of 4.2 per cent in January, data showed on Friday, keeping the central bank under pressure to phase out its massive stimulus programme. Advertisement “The rise in consumer inflation is driven mostly by moves by companies to pass on rising raw material costs to households,” Kuroda told a news conference after attending the G20 finance leaders’ gathering in Bengaluru, India. The BOJ expects core consumer inflation to slow below 2 per cent in both fiscal 2023 and 2024, as the effect of past rises in raw material costs fades, he said. “It’s true Japan’s situation is quite different from that of the United States and advanced European countries. The BOJ must maintain current ultra-loose policy to sustainably and stably achieve its 2 per cent target,” Kuroda said. Advertisement Source: Reuters

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