BOJ Gov Kuroda: Expanded easing to ensure it will reach price target - post rate decision press conference
- Took needed and sufficient action at today's policy meeting- Still see room for more policy action if needed- Easing aimed at ending the deflationary mindset; saw a risk of delay in changing this mindset
- Will do all we can to achieve the 2% inflation target; will not hesitate to act again
- Japan is at a critical juncture to end deflation- Need to continue QQE until the 2% inflation target is achieved
- Today's decision to ease shows the central bank's unwavering determination
- Decline in demand and falling oil prices are exerting downward pressure on prices
- Reiterates that easing is having the intended effects
- Japan economy is on a moderate recovery path- Lower energy prices to support the economy in the long term
- Impact of the April sales tax increase has been somewhat prolonged
- Board shared that it sees downside risks but were divided whether action was needed at this time (**Reminder: Vote for furtehr easing was 5 to 4 earlier today)