Haruhiko Kuroda: Japan's economic and price developments and future prospects

Speech by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the meeting of Councillors of Nippon Keidanren (Japan Business Federation), Tokyo, 26 December 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

It is a great honor to have this opportunity to address such a distinguished gathering of business leaders in Japan today.

This is the sixth time I have the occasion to give a speech here wrapping up the year. Today, I would first like to talk about the Bank of Japan's view on domestic economic and price developments while looking back on the past six years. Next, I will elaborate on efforts that firms have made so far toward improving productivity, mainly in response to labor shortage, and will then outline future prospects. Lastly, I will explain the Bank's conduct of monetary policy.