(Tiper Stock Exchange) – Haruhiko Kuroda has adopted a slightly less accommodating attitude just when his words have almost no more effect, namely in the farewell press conference for the post of head of the Japanese central bank. Chosen by then Prime Minister Shinzo Abe to bring Japan out of deflation, Kuroda will see his second five-year term end on Saturday, when academic Kazuo Ueda will take his place.
“Japan’s 15 years of deflation has created a strong perception among the public that prices and wages will not rise,” Kuroda said, according to a Reuters report.
“But that perception, or norm, is starting to change. As such, I think that the timescales for achieving the BoJ’s inflation target in a stable and sustainable manner are approaching“, he stressed.
Under his tenure, the Bank of Japan (BoJ) spent $11.7 trillion to keep its ultra-accommodative stimulus going, making the central bank’s balance sheet much larger than that of the Federal Reserve and the ECB in proportion to size. of the economy.
Furthermore, the BoJ is the only major central bank to still keep rates lowa move that sent the yen to a 32-year low.