BOJ undeterred by threat to consumers from above-target inflation

In the eyes of Japanese consumers, the Bank of Japan, the guardian of price stability, may look out of touch with the reality they face in everyday life.

As if the BOJ or LDP have ever been deterred by threats to the populace or the reality of the Japanese worker.

Their foci have been weakening the yen to help zaibatsu exporter Japan Inc. and buoy capital markets with QE monetary easing socialism for the rich.

No surprises here.

Economic decline and deflation is so entrenched in Japan that they can’t even imagine a situation where things will change.

The truth is, things won’t change, and the policymakers know it. After this period of inflation is finished, Japan will resume its downward slide. There’s no stopping that.

Their foci have been weakening the yen to help zaibatsu exporter Japan Inc. and buoy capital markets with QE monetary easing socialism for the rich.

No surprises here.

exactly.

Economic decline and deflation is so entrenched in Japan that they can’t even imagine a situation where things will change.

The truth is, things won’t change, and the policymakers know it. After this period of inflation is finished, Japan will resume its downward slide. There’s no stopping that.

I agree.

The BOJ says it remains committed to its massive stimulus until inflation reaches its 2 percent goal. The current pace of price increases signals the central bank could phase out its easing policy, just as other central banks are raising interest rates to fight inflation

…

Just another cut and paste piece from another mass media journo that is too lazy and incompetent to write the truth.

People in Japan know only too well what inflation is and it isn’t 2%!

They have no idea what to do. They've been dithering and tinkering for the last three decades, but because these people aren't really affected by their failed policies at the personal level due to their insulated environment, there's little incentive to change. They need to have real skin in the game, have their bonuses tied to several economic indicators, an be forced to resign if they don't achieve them within a certain time.

The current price hikes are caused by rising prices of imported oil, food and raw materials, which is beyond the BOJ’s control. With many businesses still suffering from weak demand, Kuroda’s decision to stick to the easy monetary policy is 100% correct.

and more waves of price hikes await households in the coming months.

sigh

BOJ undeterred by threat :

makes them sound like heros :)

But consumer prices will likely remain elevated in early 2023 as companies do not yet feel fully able to pass on rapidly increasing costs and the BOJ may come under renewed pressure to do something about it.

Prices will remain "elevated" but companies will not be able to "pass on rapidly increasing costs"

Then just who in the hell is raising the prices? Sure is hell isnt me!

Major companies are forecast to offer pay rises of 2.85 percent on average in the negotiations,

Inflation at 4%, pay raises at 2.85%, so a net loss of over 1%, AND not to mention, over half the working force, those who REALLY need the money, getting nothing!

This Kuroda has been paid 11 years to do nothing. He has no clue what to do so the Japanese solution is to do nothing.

Japan Inc is finished. I left. Moved the company to Singapore. The disconnect between politicians, the old money clans and the people is complete. 99 % of Japanese and of course, us foreigners, are just expendable commodities for them. Nothing has changed since the times of the Shogun.

but it will soon be all over. Nothing works in Japan anymore. Not economically. But also socially it is dysfunctional. Mikitani and Son can also no longer keep up appearances. Rakuten will have to sell out or sink. Only Yanai still holds out but even Uniqlo, will go under without him.

Actually Japan can only go back to a complete isolation policy or get ran over by the better educated, more competent and less xenophobic Asian and south East Asian neighbors.

China and HK are also finished. South east Asia will take over.

Somebody give this man his P45 and show him outta the door !! Smh...

Sorry to say, the BOJ is doing a lot of harm to its people.

Stagflation is a real issue in Japan. BOJ needs to acknowledge the problem and Kuroda needs to pop the bubble he's created. BOJ has lost all credibility.

until when this mommy with print fake money??

"Nothing works in Japan anymore. Not economically. "

Oh, really?!

"Japan And China: Competition Or Cooperation In Southeast Asia? | Japan’s Indo-Pacific Plan - Part 1"

"https://www.youtube.com/watch?v=3rrgj8PJEZQ"

Father forgive them for....

In the eyes of Japanese consumers, the Bank of Japan, the guardian of price stability, may look out of touch with the reality they face in everyday life.

Nothing new under the sun (of capitalism). And with big yen salaries, golden parachutes and fat pensions for the boys from the BOJ why worry?

Right now, not one 'leader' of the west or Japan cares about any threat to its consumers or citizens. They don't have to worry about putting bread on their tables or choosing between food or heating. They're more concerned about pleasing America and carrying on with the war machine. No money for healthcare but lots for weapons.

Canned coffee machines at that time were 120 yen pretty similar to now. My personal opinion is that due to demographics deflation is the long term trend.

Huh? Prices increases across the board, including vending machines! When the consumption tax was raised from 5% to 8% vending machines went up, on average, 10% across the board, then another 10% to 15% when it was raised to 10%, and now another 20% to 30% depending upon location and product.

Example a 500ml bottle of Coke Zero, went from roughly ￥120 per bottle, to ￥180 within the past two years, and ￥150 to ￥180 just in the past 3 months.

While it IS possible to find, off-brand canned products, at ￥120, that is no longer the "average", leastwise around me anyway, and where I live, it's the cheapest in Japan. (Oh and you can find really off-off-brands still selling for ￥100 per can or PET bottle, but you get what you pay for!)

The current price hikes are caused by rising prices of imported oil, food and raw materials, which is beyond the BOJ’s control. With many businesses still suffering from weak demand, Kuroda’s decision to stick to the easy monetary policy is 100% correct.

Yet everything in Japan has a tax levy!

Food, fuel and clothing-basic commodities and the J government sucks money from the poor

Nobody voted for Kuroda to cause inflation by devaluation of the yen but his stewardship of the BOJ has been instrumental in doing so…

Nobody voted for Kuroda to cause inflation by devaluation of the yen but his stewardship of the BOJ has been instrumental in doing so…

Kuroda is in an appointed position and he will be leaving next month, he has only had to keep his master's happy, not the people!

Mr.Kuroda is the vivid example of why this country stuck in the past and stubborn enough to don’t change things.

Aged old conservative men at the helm of the country.

Buy your 500ml pet bottles at the grocery store. They are about 69-120 yen a bottle.

If you buy at a vending machine you are paying for the convenience of instant gratification.

The situation for Japan was unique in that it had to fire up inflation, not rein it in.

Not that it had to - they had price stability - but because they thought price stability of 0% inflation was a problem for the economy Abe with Kuroda as his lacky opted to print loads of money.

It was fine with price stability. Now people have negative real wages, whereas before real wages were flat, like prices.

There is a lot more to good economic policy than having your central bank print money.

I wish Kishida would have the brains and guts to recognize this when he picks a Kuroda replacement, but he is a wishywashy kind of politician like many in Japan, so chances are he adopts another of a similar ilk to keep printing money, and monetizing Japan’s public debt.

That’s the soft option.

The hard option would take political leadership.

quote: Governor Haruhiko Kuroda reckons the 2 percent target has yet to be achieved in a true sense.

Hilarious. This guy doesn't live in a bubble, he lives in a bubble on another planet in another realm of the metaverse. Someone take him shopping.

A weak Yen is good for foreign elites desiring to buy up Japan.