...in five years!!! As if it's tomorrow? Based on what?
Japan will reach 2% inflation target and can begin reducing stimulus in five years, BOJ's Kuroda says
The Bank of Japan will be able to begin winding down its extraordinary monetary stimulus within the next five years, the head of the central bank said. "Sometime within the next five years, we will reach [our] 2 percent inflation target," Governor Haruhiko Kuroda told CNBC's Sara Eisen over the weekend. Once that level is reached, we will start "discussing how to gradually normalize the monetary condition." Kuroda began his second five-year term this year. He has implemented a massive stimulus policy by cutting the central bank's benchmark interest rate to negative, keeping the 10-year Japanese government bond ... (full story)