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RPT-BOJ's Kuroda: No need to change policy as prices are on track
January 22, 2014 / 7:35 AM / 4 years ago

RPT-BOJ's Kuroda: No need to change policy as prices are on track

TOKYO, Jan 22 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Wednesday that diminishing overseas risks and steady progress in meeting the bank’s price goal meant that there was no need to consider changing its policy framework.

“Of course, there could be both upside and downside risks to the BOJ’s price forecast but such risks have not materialised, and if that’s the case, the current policy will continue,” Kuroda told a news conference, shrugging off any need for immediate additional stimulus.

The BOJ kept monetary policy steady on Wednesday and maintained its upbeat consumer inflation forecasts, encouraged by signs that a broadening economic recovery may nudge firms into spending more on wages and investment.

As widely expected, the BOJ voted unanimously to maintain its pledge of increasing base money, or cash and deposits at the central bank, at an annual pace of 60 trillion to 70 trillion yen ($575-671 billion).

There has been some speculation in financial markets that the BOJ might ease policy to pre-empt any negative impact on the economy from a planned increase in the sales tax this April.

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