Kuroda: BoJ committed to achieving 2% price target

Thursday, 20. June 2019 08:51

Bank of Japan Governor Haruhiko Kuroda confirmed on Thursday commitment to achieving the 2% price target, insisting that the inflation is expected to gradually pick up towards the 2% rate. Kuroda also said, during a press conference following a decision on interest rates, that the Japanese economy is moderately expanding, but that there are significant risks associated with foreign economies.

The governor noted that it would be appropriate to persistently continue with easing and he pointed out that the central bank is having in mind various measures for further easing if it becomes necessary.

Earlier today, the Bank of Japan decided to leave the short-term interest rate unchanged at -0.1% and continue to purchase government bonds in order to keep the 10-year yields at around 0%. The bank said it would keep the interest rates low "at least through spring 2020."

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