The press conference in FCCJ


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Press conference at FCCJ

"To Ease or Not to Ease: Kuroda's Monetary Challenge"
Haruhiko Kuroda, Governor of The Bank of Japan
Friday, March 20, 2015, 12:30 - 13:30

日本銀行総裁 黒田 東彦



Nearly two years since Bank of Japan Governor Haruhiko Kuroda unleashed his "bazooka" of monetary easing, the central bank remains a long way from its 2 percent inflation target as the end of its two-year time-frame approaches.

Kuroda regularly repeats the line that "the BOJ won't hesitate to make adjustments if needed." With a majority of economists seeing an expansion this year of the bank's already huge bond-buying program, it could be just a matter of time before Kuroda eases again.

Kuroda will come to the FCCJ to discuss his program (known as Quantitative and Qualitative Monetary Easing), the options he has for stimulus, the timing of a potential tapering of asset purchases, and matters such as the state of the Japanese economy and the role of the central bank.

Kuroda's bold approach came partly from his studies under Nobel Laurette economist John Hicks at Oxford University. He's also a devotee of the late U.S. economist Irving Fisher, whose views on the dangers of deflation helped shape his conviction in the reflationary power of money-printing.

The governor rose through the ranks at the Ministry of Finance (during which time he was the architect of a Japanese proposal to establish an Asian monetary fund) to become the nation's top currency official. He then moved to head the Asian Development Bank, where he served for eight years before moving back to Japan to his current role.

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