BoJ may keep retreating from stimulus under Kuroda

The BoJ maintained its pledge of increasing base money, or cash and deposits at the central bank, at an annual pace of 60-70 trillion yen (US$547-US$638bil) via purchases of government bonds and risky assets, but is non-committal about expanding the stimulus - AFP Photo.

TOKYO: The reappointment of Bank of Japan (BoJ) governor Haruhiko Kuroda for another five-year term means the central bank will continue to gradually edge away from crisis-mode stimulus, former BoJ board member Takahide Kiuchi said.

Premier Shinzo Abe’s decision to reappoint Kuroda, whose massive easing efforts failed to accelerate inflation to his 2% target since becoming governor in 2013, is a sign the government is no longer insisting that the BoJ meet its price goal quickly, he said.