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