BOJ’s Kuroda: Wanted to make stance clear on persistent easing (JPY ignores)

The Bank of Japan (BOJ) Governor H. Kuroda is on the wires now, via Reuters, addressing the post-monetary policy meeting press conference.

The Japanese central bank made no changes to its monetary policy settings at its April meeting but modified its forward guidance on the interest rates by finally providing a timeline for low interest rates.

Key Headlines:

Wanted to make stance clear on persistent easing.

Virtuous economic cycle is in place.

Consumer prices have remained somewhat weak.

Expects CPI to pick up towards 2% gradually.

Risks to the economy, prices are tilted to the downside.

It's likely to still take some time to hit the inflation target.

BOJ will adjust policy as needed to maintain momentum towards 2% inflation target.