BoJ's Kuroda: Weak yen not harmful for the economy

FXStreet (Łódź) - Speaking before the Japanese House of Representatives Budget Committee on Frida, BoJ governor Haruhiko Kuroda said that the central bank will make efforts to attain the 2% CPI target as soon as possible.

He suggested that inflation is expected to pick up in the second half of this year. BoJ's price target is the overall CPI but core inflation is observed to determine price trend.

As far as the weakening of the yen is concerned, in Kuroda's opinion it generally shouldn't harm the economy, as long as it is in line with fundamentals.