Bank of Japan's Yukitoshi Funo, Member of the Policy Board. Speaking at a meeting with business leaders in Shizuoka
Headlines via Reuters;
- Economy's momentum for hitting 2% inflation remains in place
- Inflation likely to accelerate toward BOJ's 2 pct target
- Still some distance to hitting 2 pct inflation
- Some in markets see chance BOJ may raise yield target, but now it is important to maintain powerful monetary easing
- Must be mindful of downside risks to price outlook
- Inflation likely to reach 2 pct during fiscal 2018
- There is a risk companies may remain cautious of raising wages
- medium-, long-term inflation expectations likely to move toward sustained upward trend ahead
- Japan is making progress in structural reforms but more efforts needed to boost its growth potential
Funo saying 2% target likely to be hit in fiscal year beginning April 2018. Yeah, right. Funo is a cheerleader for Governor Kuroda. Good luck on the 2018 timing, but we've heard it all before, rolled out a year further as every 12 months passes as the target remains elusive.
