- Haruhiko Kuroda, BoJ Governor
Bank of Japan Governor Haruhiko Kuroda reassured that the central bank would not hesitate to adjust monetary policy if needed to achieve 2% inflation target. Even though the slowdown in emerging markets, particularly in China, affected Japan's exports and production, Kuroda believes that the fundamentals of the world's third biggest economy remain sound and the environment surrounding companies and households has markedly improved. The estimated real economic growth rate for fiscal 2015 was downgraded to 1.2% compared with the expected 1.7% in the July 2015 Outlook Report.
On the price front, Kuroda voiced optimism that the underlying trend in inflation has steadily improved, excluding the effects of the decrease in energy prices. The BoJ's QQE programme, launched in April 2013, has been exerting the desired effect toward overcoming deflation. Thus, the central bank will continue to pursue its monetary policy settings and solidly keep its accommodative financial conditions. Against this background, firms and households are predicted to be more proactive in economic activity, while the Japanese economy is likely to continue to grow at a pace above its potential and the price stability goal of % would be achieved.
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