BOJ’s Kuroda – Need to continue powerful monetary easing

Bank of Japan (BOJ) governor, while speaking in the parliament today, stressed the need to continue powerful monetary easing, but acknowledged that the virtuous cycle is strengthening.

Key quotes

Inflation expectations are weak, need to monitor closely

Confident prices will reach 2% target with current easing, global growth is clearly improving

Japan’s output gap is improving rapidly

Price momentum toward 2% target is being maintained, further adjustments of policy if needed