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BOJ's Kuroda vows to patiently continue current monetary stimulus

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Bank of Japan (BOJ) Governor Haruhiko Kuroda on Tuesday vowed to "patiently continue" the central bank's "powerful" monetary easing as it was taking longer than previously thought to accelerate inflation to its two per cent target.

[TOKYO] Bank of Japan (BOJ) Governor Haruhiko Kuroda on Tuesday vowed to "patiently continue" the central bank's "powerful" monetary easing as it was taking longer than previously thought to accelerate inflation to its two per cent target.

Prices remain weak despite a tight labour market, but the momentum towards two per cent inflation is intact, Mr Kuroda told lawmakers in parliament.

While continuing its massive monetary stimulus, the BOJ will examine whether the decline in profits at regional banks may undermine financial intermediation, Mr Kuroda added, urging regional banks to step up efforts to reduce costs and extend tie-ups.

REUTERS

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