American business activity speeds down in June
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BOJ's Kuroda considers North Korea to be a major risk to global outlook
As Bank of Japan Governor Haruhiko Kuroda stressed, resuming tensions in North Korea were among major risks to a brightening global economic outlook. He added that the major bank was closely monitoring the impact on financial markets as well as Japan's economy.
He also backed the BOJ's 2% inflation target, labeled by many financial experts as too ambitious, telling that Japan’s major financial institution can help keep long-term currency moves steady by simply setting its price objective at a level equivalent to other key banks.
As with other key financial institutions, the BOJ's first line of defense versus major economic as well as market shocks would be to provide unlimited amounts of liquidity via transactions.
In April-June, Japan's economy managed to expand at an annualized rate of 2.5%, thus demonstrating the longest streak of expansion for 11 years, on firm exports as well as a pick-up in consumption.
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