Haruhiko Kuroda, Head of the Bank of Japan, delivered a speech (26.12.2016)

In his speech to the country’s business representatives, the head of the Japanese Central Bank, Haruhiko Kuroda, stated that the world economy is showing signs of recovery from the most difficult phase of the financial crisis. This is evidenced by the developed countries, whose economies are beginning to grow at an accelerating rate. This favorable situation may be useful for the Japanese economy. Considers Curoda.

He also objected to those economists who believe that the inflation target of 2 percent is too high for a country that is still making unsuccessful attempts to cope with deflation.

Experts believe that Haruhiko Kuroda’s speech demonstrates an increase in the level of optimism in the country about the future of the Japanese economy and confirms the market’s predictions that the Bank of Japan will not take any monetary stimulus measures in the near future.

In the past, the Japanese Central Bank refused to use the monetary base as a target, replacing it with targeting the yield of 10-year bonds around zero. At the same time, the volume of purchase of government bonds was preserved in the amount of 80 trillion yen per year.