Japan's central bank to keep retreating from stimulus under Haruhiko Kuroda, former BOJ board member says

The reappointment of Bank of Japan Gov. Haruhiko Kuroda for another five-year term means the central bank will continue to gradually edge away from crisis-mode stimulus, according to former BOJ Policy Board member Takahide Kiuchi.

Prime Minister Shinzo Abe's decision to reappoint Kuroda, whose massive easing efforts failed to accelerate inflation to his 2 percent target since becoming governor in 2013, is a sign the government is no longer insisting that the BOJ meet its price goal quickly, Kiuchi said Monday.

Since abandoning a policy targeting the pace of money printing in 2016, the BOJ is already whittling down its sweeping stimulus program by slowing its bond purchases, he said.