Haruhiko Kuroda: Japan's economy and monetary policy

Speech by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at a meeting with business leaders, Nagoya, 5 November 2019.

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

Introduction

It is my great pleasure to have the opportunity today to exchange views with a distinguishes gathering of business leaders in the Chubu region. I would like to take this chance to express my sincerest gratitude for your cooperation with various activities of the Bank of Japan's Nagoya Branch.

At the Monetary Policy Meeting (MPM) held last week, the Bank updated its projections for Japan's economic activity and prices through fiscal 2021. In particular, it examined economic and price developments while paying closer attention to the fact that slowdowns in overseas economies have continued and their downside risks seem to be increasing. Today, while outlining this examination, I would like to explain the Bank's view on Japan's economic activity and prices as well as its thinking behind the recent conduct of monetary policy.