19 Dec 2014
BOJ’s Kuroda says impact of sales tax increase waning
FXStreet (Mumbai) - After maintaining status quo on the QQE program, the Bank of Japan Governor Kuroda, in the press conference, said the Japanese economy is recovering from the impact of sales tax hike.
He further added, “inflation expectations are rising in the long term; CPI likely around 2% target around FY2015, while stating that shift from the deflationary mindset will continue.
On weak Yen, the Governor said, “weak Yen helps boost profits for global companies; although it weighs on household, companies,” while adding further that the bank would continue to monitor the FX impact on the economy and that it would be desirable to have FX market reflect economic fundamentals.
He further added, “inflation expectations are rising in the long term; CPI likely around 2% target around FY2015, while stating that shift from the deflationary mindset will continue.
On weak Yen, the Governor said, “weak Yen helps boost profits for global companies; although it weighs on household, companies,” while adding further that the bank would continue to monitor the FX impact on the economy and that it would be desirable to have FX market reflect economic fundamentals.