Kuroda and Sakurai in parliament

Trotting out the same old

Sakurai:

  • There has been some progress to beat deflation in the past 3 years
  • Global economic risk has risen over past 6-12 months
  • Don't think negative rate policy is mistaken
  • Should avoid making small policy changes - take bold action when big risks threaten

Kuroda:

  • Still halfway to inflation target
  • Labor mkt improving
  • Corporate profits high
  • Drop in the price of oil the main reason haven't hit inflation target

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Yen still gaining after the better wages data earlier

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Also, more from Japan economy minister Ishihara:

  • Japan isn't in deflationary conditions yet