Reuters: US Dollar Report: BOJ gov Kuroda sees positive effects of QE on economy, prices

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BOJ gov Kuroda sees positive effects of QE on economy, prices Oct 18th 2013, 07:02 TOKYO | Fri Oct 18, 2013 3:02am EDT TOKYO Oct 18 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday that effects of the central bank's monetary stimulus are firmly emerging on economic activity and that the positive impact is spreading in the economy and prices. Speaking at a meeting of credit cooperative officials, Kuroda said the economy will continue to recover moderately with annual gains in core consumer prices likely rising gradually. "The BOJ will continue with quantitative and qualitative easing, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining this in a stable manner," he said. At its Oct. 3-4 policy review, the central bank raised its view on capital spending to say it was picking up, while keeping intact the monetary stimulus it launched in April, aiming at reaching a 2 percent inflation goal in roughly two years. The BOJ holds its next policy-setting meeting on Oct. 31, when it will also issue its twice-yearly economic and price projections.

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