Recent flat core CPI growth due mostly to effect of Oil price falls – BOJ’s Kuroda

By FXStreet FXStreet (Mumbai) – Speaking in the Japanese parliament today, Bank of Japan (BOJ) Governor Kuroda blamed the negative effects of oil price falls for the recent flat core CPI growth.

Key Quotes:

QQE exerting intended effects

Japan’s economy continues to recover moderately

Broad price trend improving, recent flat core CPI growth due mostly to effect of Oil price falls

Timing of when to hit 2 pct inflation will move around a bit depending on Oil price moves

Japan economy’s fundamentals remain solid

Global stock price falls caused by investors’ risk aversion amid further declines in Oil prices, uncertainty over china’s economic outlook

Will continue to closely watch how recent market moves could affect economy, prices

Won’t hesitate adjusting policy if any change in broad price trend

Not thinking about adopting negative interest rates now
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Source:: FX Street