BOJ’s Kuroda – Expect inflation to gradually accelerate to 2%

Bank of Japan (BOJ) Governor Kuroda, while speaking in Parliament, said the bank expects the inflation to gradually accelerate to 2%.

Key quotes

Still distant from meeting 2% price target, will continue with QQE

It is true wage growth remains weak despite tightening job market

Has taken time to get rid of the deflationary mindset

Improvement of output gap, oil prices to help inflation

BOJ does now just want prices to rise, but wants a virtuous cycle of better wages and better profits