Well, d'uh. Bank of Japan Governor Kuroda speaking at a BOJ branch managers' meeting:
- Japan's economy expanding moderately, though overseas slowdown affecting exports, output
- Japan's economy expected to expand moderately for time being, though affected by overseas slowdown
- Consumer inflation moving around 0.5-1 pct
- Japan's financial system maintaining stability
- BOJ will maintain QQE with yield curve control for as long as needed to achieve 2 pct inflation in stable manner
- BOJ will continue expanding monetary base until consumer inflation stably exceeds 2 pct
- BOJ will keep short-, long-term interest rates at current very low levels for an extended period
Despite the prognostications from various directions that the BOJ will soon scale back accommodative policy, those listening to Kuroda and his board room buddies attention are like, 'No, they won't". No surprises in these promises from Kuroda (bolded above).
