Bank of Japan warns of global slowdown – business live

The Guardian - Mar 15, 08:31 GMT

Rolling coverage of the latest economic and financial newsIntroduction: BoJ points to global slowdownHow will it ever get inflation to 2%? 8

Rolling coverage of the latest economic and financial news

Bjørn T Sillemann, analyst at Danske Bank, points out that Japan’s manufacturing has weakened recently (activity shrank last month for the first time since 2016).

@Bank_of_Japan_e recognises economy is affected by overseas slowdown, but domestic demand remains firm. They will likely be reluctant to ease further. Side effects from the current policy is already the centre of much discussion. BoJ is likely to stay on the side-lines for long pic.twitter.com/PyKpX6hnft

BoJ governor Kuroda insisted that he’s not giving up on getting Japan’s inflation rate up to 2%.

He told reporters:

“I don’t think there is a need to make any changes to our price target.”

“Over the longer term, the BOJ will probably have to reconsider again what the best policy framework is, given that it will take a very long time to hit the price target.”

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