Should Kuroda Downgrade Japan's Inflation Forecast?
The yen approached a three-month low after the Bank of Japan maintained its monetary stimulus and delayed the projected timing for reaching its inflation goal beyond Governor Haruhiko Kuroda’s term. The Japanese currency fell for a second day against the dollar after the central bank maintained its asset purchases at 80 trillion yen ($762 billion) annually. It also kept its target for the 10-year government-bond yields at around zero percent, and left the policy rate on a portion of commercial bank reserves at minus 0.1 percent. All but two of the 43 economists surveyed by Bloomberg predicted no additional easing Tuesday. Goldman Sachs Chief Japan Strategist Kathy Matsui discusses with Guy Johnson in London and Caroline Hyde in Berlin on "Bloomberg Markets: European Open."