BOJ to continue easing to meet price goal: Kuroda

January 15, 2018

Tokyo- Bank of Japan Governor Haruhiko Kuroda stressed on Monday the BOJ's intention to continue its massive monetary easing to attain its 2 percent inflation target.

At a quarterly meeting of branch managers of the central bank, Kuroda said that the Japanese economy is expanding moderately, with a virtuous cycle from income to spending working.

The year-on-year growth of the core consumer price index, excluding fresh food prices, is seen increasing toward 2 percent on the back of a shrinkage in the supply-demand gap and a rise in medium- to long-term inflation expectations, he said. The CPI growth now stands around one pct.

Kuroda stressed that the BOJ will keep its current easing policy intact as long as it is necessary for maintaining the price target in a stable manner. The bank will continue expanding the country's monetary base until the CPI growth exceeds 2 percent and stabilize above the level, he added.

With a view to maintaining the momentum to achieve the price stability target, the BOJ will make policy adjustments while taking economic, price and financial conditions into consideration, Kuroda said. Jiji Press