BOJ Kuroda: Economy recovering but consumption lacks strength
Reuters
Published May 24, 2016 11:10PM ET
Updated May 24, 2016 11:20PM ET
BOJ Kuroda: Economy recovering but consumption lacks strength
TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Wednesday the economy continued to recover moderately, but acknowledged that private consumption was disappointingly weak.
"It's true that consumption isn't strong enough," Kuroda told parliament, adding that rises in wages and household income were crucial for consumers to boost spending.
Kuroda dismissed the idea of changing or watering down the BOJ's 2 percent inflation target, when urged by an opposition lawmaker to make it a long-term goal instead of one with a specific time frame.
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Written By: Reuters
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