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23 Feb 2015
BOJ's Kuroda waivers on inflation target time frame – TradeTheNews
FXStreet (Barcelona) -The TradeTheNews Team notes that BoJ’s Kuroda commented that the central would consider changing the timing of attaining the inflation target due to the oil price slide, and further added that the longer-term impact from the oil slump stays positive on the economy.
Key Quotes
“BOJ Gov Kuroda signaled Japan central bank would consider changing the timing of meeting the 2% inflation target amid deeper than expected slide in oil prices.”
“Longer term, however, Kuroda saw lower oil benefiting the economy by boosting spending and thereby pushing up inflation, reiterating Japan has continued its gradual recovery.”
“BOJ minutes for Jan 20-21st largely reflected that sentiment, noting oil price swings could have large impact on CPI, but economy is gradually recovering and exports would pick up due to stronger external demand and weaker yen.”
“Separately, a Nikkei survey also noted 72% of companies in Japan see no need for further BOJ policy easing.”
Key Quotes
“BOJ Gov Kuroda signaled Japan central bank would consider changing the timing of meeting the 2% inflation target amid deeper than expected slide in oil prices.”
“Longer term, however, Kuroda saw lower oil benefiting the economy by boosting spending and thereby pushing up inflation, reiterating Japan has continued its gradual recovery.”
“BOJ minutes for Jan 20-21st largely reflected that sentiment, noting oil price swings could have large impact on CPI, but economy is gradually recovering and exports would pick up due to stronger external demand and weaker yen.”
“Separately, a Nikkei survey also noted 72% of companies in Japan see no need for further BOJ policy easing.”