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BoJ Gov Kuroda Comments
Japan’s Economy Expanding Moderately
Downside Risks To Prices Are Larger
No Change To Our Stance Of Proceeding With Strong Monetary Easing To Hit 2% Price Target At Earliest Possible Date
Important For Govt To Maintain Trust In Fiscal Policy, Given High Level Of Public Debt
PM Abe Hasn’t Given Up On Primary Budget Surplus Target
Expect Govt To Continue To Take Steps Toward Fiscal Discipline
Will Continue ETF Purchases Based On Guideline On Asset Purchases
– Not Buying ETFs With Specific Stock Prices In Mind
Stock Prices Reflect Future Earnings Prospects Of Companies
Have Not Observed Excessive Expectations Behind Stock Market MovesMore from Kuroda – seems to love those ETFs
would also accelerate deflation
wrong to think that unconventional mon pol would make exit difficult
wages rising but takes time to change mindset
wage growth will accelerate once deflation mind is gone
a central bank Gov needs to grasp economic theory, this is a problem not just in Japan, also US & Europe
6 trln JPY target for ETF buys different to JGB target
JGB buys are to achieve YCC, this is different to ETFs
not sure if analysis of my expressions has policy meaning
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