Bank of Japan Governor Kuroda speech
Note his comment on financial stability. Financial stability concerns are often used as a supportive factor by those wanting to reduce policy accommodation. K says its not an issue though.
- Japan's economy showing some signs of weakness but picking up as a trend
- Japan's economy likely to recover as impact of covid-19, supply constraints ease
- Japan's consumer inflation moving around 0.5%
- Japan's consumer inflation likely to clearly accelerate pace of increase
- there is very high uncertainty on how developments in Ukraine affect Japan's economy and prices via markets, asset price moves and overseas growth
- Japan's financial system stable as a whole
- BOJ will maintain ultra-loose policy to stably achieve 2% inflation target
- Japan's inflationary pressure likely to heighten as a trend
- BOJ stands ready to ease policy further without hesitation as needed
- must remain vigilant to impact of pandemic on domestic, overseas economies
