Kuroda's comments at Jackson Hole
The Bank of Japan Governor Haruhiko Kuroda, speaking at Jackson Hole said that the unconventional policy measures have already started to "exert their intended effects". The regulator has pledged to lift inflation to 2% through a campaign of agressive QR in order to end a decade-long recession.
Some emerging nations complained about the negative effect of extra-loose monetary policy on their economies. "Almost all base money provided through monetary policy will be accumulated in the form of deposits with a central bank and will not cause the cross-border capital outflow", Kuroda answered.