BOJ’s Kuroda: CPI will reach 2% in FY 2018

BOJ Governor Kuroda is on the wires now, via Reuters, making a speech on the monetary policy program as his scheduled post-BOJ decision press conference gets underway.

Key Headlines via Reuters:

Board members Sato and Kiuchi said 2% won't be reached during f/cast period

BOJ will adjust policy as needed

Economy continues moderate recovery

To continue yield curve control as long as needed to meet inflation target

Delay in price target timing reflects that inflation expectations still not forward looking

BOJ judges that there is still enough momentum to meet 2% target

CPI will reach 2% in fiscal year 2018

Kuroda makes no comment on whether he will have a 2nd term at BOJ

It’s up to Parliament and Cabinet