BOJ Kuroda: Economy recovering but consumption lacks strength
[TOKYO] Bank of Japan governor Haruhiko Kuroda said on Wednesday the economy continued to recover moderately, but acknowledged that private consumption was disappointingly weak.
"It's true that consumption isn't strong enough," Mr Kuroda told parliament, adding that rises in wages and household income were crucial for consumers to boost spending.
Mr Kuroda dismissed the idea of changing or watering down the BOJ's 2 per cent inflation target, when urged by an opposition lawmaker to make it a long-term goal instead of one with a specific time frame.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month