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%