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2 Jan 2015
BoJ to stay firm on meeting inflation target – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments on the firm attitude of the BoJ towards inflation, citing Kuroda’s comments that the BoJ has plenty of tools left to ease policy further in order to achieve its inflation target.
Key Quotes
“USD/JPY is up over 60pips above 120.40 amid the overall USD strength. BOJ Gov Kuroda noted the central bank has plenty of tools left to ease policy further, adding he would be opposed to loosen commitment on inflation target since "that in itself will make it impossible to meet the price target”.“
“Separately, Business Federation (Keidanren) chairman Sakakibara said 2015 is likely to be better than upper 1.0% estimated by think tanks, adding he believes this to be the year when Japan undeniably escapes deflation and gets on track to economic recovery.”
“Sakakibara also said all efforts will be made to persuade corporations to raise wages by a similar amount after a 2% increase for the first time in 15 years in fiscal 2014.”
Key Quotes
“USD/JPY is up over 60pips above 120.40 amid the overall USD strength. BOJ Gov Kuroda noted the central bank has plenty of tools left to ease policy further, adding he would be opposed to loosen commitment on inflation target since "that in itself will make it impossible to meet the price target”.“
“Separately, Business Federation (Keidanren) chairman Sakakibara said 2015 is likely to be better than upper 1.0% estimated by think tanks, adding he believes this to be the year when Japan undeniably escapes deflation and gets on track to economic recovery.”
“Sakakibara also said all efforts will be made to persuade corporations to raise wages by a similar amount after a 2% increase for the first time in 15 years in fiscal 2014.”