In a speech at the Meeting of Councillors of Nippon Keidanren (Japan Business Federation) in Tokyo, BoJ Governor Haruhiko Kuroda warned that “it’s necessary to bear in mind that uncertainties have recently increased with respect to developments in overseas economies.”

He noted that the “stock market has been somewhat unstable”. And, “the fluctuations are partly attributable to changes in perception of various risks surrounding the global economy”.

On monetary policy, though, Kuroda sounded rather cautious. He said “In complex times like now, what’s required is to persistently continue with the current powerful easing while weighing the benefits and costs of our policy in a balanced manner.”

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Kuroda’s full speech here.

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