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Kuroda: Won't hesitate to take additional easing steps if risks grow

BoJ gov Kuroda is crossing the wires and has said that Japan's economy has been expanding moderately as a trend, though exports, output, business sentiment have been affected by overseas slowdown and natural disasters.

Key comments

  • Japan's economy likely to continue expanding moderately as a trend, though affected by overseas slowdown for time being.
  • Consumer inflation is moving around 0.5%
  • Consumer inflation to accelerate gradually towards 2% on positive output gap and rises in inflation expectations while being affected by decline in oil prices for time being.
  • Japan's financial system is maintaining stability.
  • BoJ will maintain QQE with yield curve control for as long as needed to achieve 2% inflation in stable manner.
  • BoJ will continue expanding monetary base until consumer inflation stably exceeds 2%.
  • BoJ expects short-, long-term rates to remain at current or lower levels as long as necessary.
  • Won't hesitate to take additional easing steps if risks grow that momentum towards achieving price target will be lost.

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