18 Feb 2014
BoJ's Kuroda: Japan's economy is on track
FXStreet (Łódź) - Following the Bank of Japan's decision today to expand its loan program in order to boost the economy, governor Haruhiko Kuroda said that flexible bond purchases would continue at a monthly pace of 6-8 trillion yen.
"We have sharply increased the power of our engine through our quantitative and qualitative easing program, and we have just put on better tires to make the most of this engine," Kuroda explained the BoJ's move.
He also expressed belief that the recent GDP data pointed to an improvement in the economy (despite the fact that the numbers came in considerably below expectations) and assured that there was scope for modifying monetary policy if risks materialized.
“But for now Japan's economy is on track and moving in line with our forecasts," Kuroda stated.
"We have sharply increased the power of our engine through our quantitative and qualitative easing program, and we have just put on better tires to make the most of this engine," Kuroda explained the BoJ's move.
He also expressed belief that the recent GDP data pointed to an improvement in the economy (despite the fact that the numbers came in considerably below expectations) and assured that there was scope for modifying monetary policy if risks materialized.
“But for now Japan's economy is on track and moving in line with our forecasts," Kuroda stated.