Exit Strategy to Be Biggest Challenge for BOJ Kuroda
Tokyo, Feb. 11 (Jiji Press)—Achieving 2% inflation and paving the way for exiting from the current massive monetary easing policy are likely to be the biggest challenge for Bank of Japan Governor Kuroda Haruhiko, who is expected to be reappointed by the government to a second five-year term.
It is not easy to normalize monetary policy at a time when financial markets are in turmoil globally, sources familiar with the situation said.
"I don't think at all that the BOJ needs to change its 2 pct inflation target," Kuroda said at a press conference last month.
Soon after taking office in March 2013, Kuroda, 73, introduced the quantitative and qualitative monetary easing.
Initially, he vowed to achieve 2% inflation in two years. But he has since pushed back the timing for achieving the inflation target six times, and he now expects to meet the goal around fiscal 2019, which starts in April next year.[Copyright The Jiji Press, Ltd.]