Kuroda’s April-Was-Enough Message Faces Markets Wanting More
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Bank of Japan Governor Haruhiko Kuroda’s conviction his April plan to double the nation’s monetary base will be enough to end deflation is confronting its biggest test with a sustained sell-off in stocks.
The Topix index fell today after dropping 1 percent yesterday, extending its decline to 16 percent from a May 22 high after the BOJ refrained from adding stimulus or expanding its toolkit for tackling volatility in bonds. Kuroda has repeatedly said the BOJ has taken all “necessary” measures.