Jiji Press TOKYO (Jiji Press) — Bank of Japan Gov. Haruhiko Kuroda said Monday that the country’s economy is expected to keep expanding at a moderate pace.
“The economy is expanding moderately as a virtuous cycle from income to spending is working,” he told a meeting of heads of the BOJ’s local branches, held at the central bank’s head office in Tokyo.
Showing his view that inflation will accelerate toward 2 percent, as targeted by the BOJ, Kuroda signaled the bank’s readiness to continue its current ultraeasy monetary policy in order to achieve the price stability goal.
The branch managers’ meeting comes at a time when concerns are growing over an escalation in U.S.-China trade friction and its impacts on the Japanese economy.
With a view to maintaining the inflation momentum, the BOJ will make policy adjustments as appropriate, taking into account developments in economic activities and prices, and financial conditions, Kuroda also said.Speech