BoJ ready to adjust policy if needed.
BoJ ready to adjust policy if needed. BoJ's Kuroda, speaking at the press conference after the monetary policy announcement earlier said consumer prices, which have remained weak, are expected to gradually rise toward 2%, although he admitted that this is still likely to take some time. The central scenario then remains further improvement, and Kuroda said a virtuous economic cycle is in place, although he also added that the risks to prices as well as the economy are tilted to the downside. The BoJ head clarified that the new forward guidance, which included a time frame, was intended to clarify the stance on persistent easing. And like Draghi for the ECB, Kuroda also said that the BoJ is ready to adjust policy to maintain momentum if needed. For now both central banks are sticking to low for longer, rather than further easing measures, although if data doesn't improve soon pressure on central banks to do more will increase.