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BoJ Kuroda: Won't hesitate to adjust policy to meet 2% price target

FXStreet (Bali) - Bank of Japan Governor Haruhiko Kuroda, speaking in Osaka, said, via Reuters, the 2 percent price stability target will be achieved as expected, although noting that they are only halfway there.

Kuroda also said he won't hesitate to adjust policy for 2% target if need. As per the shape of the Japanese economy, Kuroda said it has continued to recover moderately as a trend, noting that employment and income situation has continued to improve steadily, as well as household sentiment.

Additional headlines (via Reuters)

Kuroda saying that "the virtuous cycle from income to spending has been operating steadily in both household and corporate sectors."

"Effects of decline in demand following April sales tax hike have gradually begun to wane on the whole."

"Even since before the tax hike in April this year, the boj's outlook for economic activity and prices has factored in the two rounds of consumption tax hikes"

"Output has recently shown some weakness, exports have lacked momentum."

"Business fixed investment is expected to continue its moderate increasing trend as corporate profits are expected to continue improving on the whole."

"Exports are expected to head for a moderate increase, there are signs of pickup." 

"while there are concerns including geopolitical risks in some parts of the world, the global economy is likely to continue recovering."

"Disinflationary trend a matter of concern in euro area, but area's economy likely to continue recovering moderately due to ecb steps."

"Some geopolitical risks, including those in ukraine and iraq, still warrant attention."

"CPI likely to reach boj's price target of 2 percent around the middle of the current projection period from fiscal 2014 through 2016."

"If outlook changes due to manifestation of risks and it is judged necessary for achieving the price stability target, boj will make policy adjustments without hesitation."

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