Bank of Japan (BOJ) Governor Kuroda speaking in parliament:
- Accommodative environment is continuing
- Lending seen rising across various business sectors
- Outstanding loans expected to increase further
- Growth in loans to large firms is slowing slightly (they have ample cash reserves)
- Growth in loans to SMEs is increasing
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Headlines crossing on Bloomberg and also Reuters
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More:
- Japan’s financial system remains stable overall, don’t see real estate, financial markets imbalances, not imbalances in banking behaviour
- Export growth is lacking momentum due to weakness in Asia emerging markets
- Exports to rise moderately as temporary weighing factors will fade
- Strongly expects implementation of government growth strategy
- Fiscal year 13/14 core CPI may be slightly higher than 0.7%, slightly higher than the BOJ’s current projection
- Won’t hesitate to adjust policy if needed
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- Sustainable government finances needed for sustainable growth
- Strongly hopes government tackles fiscal reform
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Also, from Japan finance minister Aso:
- Must ensure to keep Japan economy strong this year so the government can proceed with next sales tax hike to 10%
