BOJ Gov. Kuroda Vows to Continue Powerful Easing

Economy Politics

New York, July 22 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda on Monday reiterated his resolve to "persistently continue" the central bank's current powerful monetary easing in order to realize its 2 pct inflation goal.

In a lecture in Washington, Kuroda noted that uncertainties surrounding the global economy "have been heightening" and that "some nervousness" has been seen in global financial markets.

The BOJ "needs to pay close attention to the effects of these developments on Japan's economic activity and prices," he said.

Many central banks in the world "now face a common challenge of how to raise inflation rates," he said, adding that Japan's experience of a long battle against deflation "would provide a case study" for other central banks in conducting monetary policy going forward.

Japan is "no longer in deflation in the sense of a sustained decline in prices," thanks to unconventional measures taken by the BOJ, including the quantitative and qualitative easing policy introduced in 2013, he said.

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