Kuroda Defends BOJ Policy Revision at Davos
![](https://japannews.yomiuri.co.jp/wp-content/uploads/2023/01/10297191.jpg)
Bank of Japan Gov. Haruhiko Kuroda is seen on the closing day of the 53rd annual meeting of the World Economic Forum in Davos, Switzerland on Friday.
17:02 JST, January 21, 2023
TOKYO (Jiji Press) — Bank of Japan Gov. Haruhiko Kuroda on Friday said that it was “perfectly right” that the BOJ revised its monetary easing policy at its policy meeting in December, expanding its allowable range of long-term interest rates.
At an event of the annual World Economic Forum gathering in Davos, Switzerland, Kuroda said the Japanese central bank will continue its massive easing policy, in order to achieve its 2% inflation target.
Kuroda, who is set to end his term of office in April, stressed that the 10-year-old easing policy changed Japan’s economic structure, pulling the country out of deflation, and created jobs.
But the inflation target has not been achieved yet. “That is the only regret I have,” the outgoing governor said.
On Friday, the internal affairs ministry said that Japan’s core consumer price index in December last year rose 4.0% from a year earlier, the biggest increase in 41 years.
Kuroda explained that the CPI rise is attributed to higher import prices, predicting that the inflation rate will fall below 2% in fiscal 2023.
"Business" POPULAR ARTICLE
-
Japanese Companies Increasing Efforts to Hire Foreign Students; Firms, Local Governments Help Them Acquire Skills to Find Jobs in Japan
-
Japan’s Casio to Launch Durable Clothing Range Inspired by G-Shock Brand; Company to Debut Durable T-Shirt in Late August
-
Insufficient Rice Supply Hits Japan; Sever Heat, Rising Demand from Inbound Tourist Among Factors
-
Japanese Firm Hitachi to Release Vacuum Using AR That Turns Cleaning Into a Game; Stressful Cleaning May Become More Enjoyable
-
Sony to Open New Brand Complex Building in Tokyo’s Ginza Next Year; ‘Ginza Sony Park’ to Serve as Brand Hub for Entertainment Businesses
JN ACCESS RANKING