STOCK MARKET WATCH -- Friday, 1 August 2014

[xchrom]

6. Japan's Top Central Banker Is Committed To Achieving 2% Inflation Year After Year After Year

http://www.businessinsider.com/r-bojs-kuroda-defends-upbeat-economic-view-despite-soft-data-2014-01

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda came out fighting on Friday, giving a spirited defense of the economy's performance after a run of weak data, and reiterated his readiness to expand stimulus if inflation faltered on the path to his 2 percent target rate.

"The BOJ is not aiming at achieving the price stability target of 2 percent temporarily. What it aims at is to achieve an economy in which inflation is about 2 percent on average year after year," he said, signaling that the central bank will not exit from its ultra-loose stimulus any time soon.

"I would like to emphasize that ... given the BOJ's clear and strong commitment to the 2 percent inflation target, it is a matter of course the BOJ will make adjustments if necessary to ensure the target is met," he said at a seminar.

He stressed that the BOJ will vigilantly monitor how a decline in real income affects consumer spending.



Read more: http://www.businessinsider.com/r-bojs-kuroda-defends-upbeat-economic-view-despite-soft-data-2014-01#ixzz398PIXt4x