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BoJ's Kuroda assures easing to continue for as long as necessary

FXStreet (Łódź) - Following the BoJ's unexpected decision to ease monetary policy further BoJ governor Haruhiko Kuroda said during the subsequent press conference that the aim was to attain the inflation target of 2%.

He assured that the measures implemented to date were having the desired impact, but that it was a critical moment for Japan to overcome deflation so the move had to be made. The harmful effect of the sales tax hike introduced in April have lingered for longer than expected, he said.

Kuroda stressed that the BoJ would continue easing policy for as long as necessary, taking further steps whenever the need arises but that currently he didn't see such a needed. He predicted that the 2% inflation target should be reached by the middle of FY2014-2016.

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