BOJ Governor "Necessary to continue substantial monetary easing" 5 November 18:06
BOJ Governor Kuroda held a press conference in Nagoya City on the 5th, and it is expected that the rate of price increase will not reach the target of 2% for the time being. ”And expressed the recognition that the current large-scale monetary easing is unavoidable.
The BOJ announced its outlook for the inflation rate at the monetary policy meeting held last week, but it was 1.1% in the next fiscal year and 2020, 1.5% in the next fiscal year and 2021, and the target of 2% I don't see it.
BOJ President Kuroda talked to the local business community in Nagoya on the 5th and said in a press conference, “We are continuing to ease monetary policy, but the rate of price increase is still far from the target of 2%.” Said.
On top of that, he said, “We expect prices to rise gradually, but we will need to continue a considerable amount of monetary easing.” He expressed the recognition that the current large-scale monetary easing is inevitable.
Meanwhile, at the last week's meeting, the BOJ clarified the possibility of further lowering the short-term interest rate, which has already been negative, if there is a possibility that the momentum of price increases will be impaired.
However, Governor Kuroda showed that he would not change the current policy of adjusting the long-term interest rate to be around 0% for the time being.