In an article published today in the Wall Street Journal:
"Bank of Japan Governor Haruhiko Kuroda presented evidence Saturday that the central bank’s bond-buying effort is starting to produce results.
Increases in Japanese stock prices, long-term interest rates that have remained quite stable and low, improved employment conditions, and signs that business investment is picking up were among the signs Mr. Kuroda cited.
He also said that investors’ inflation expectations appear to be picking up.
Mr. Kuroda made the comments at the annual global banking summit in Jackson Hole, Wyo., hosted by the Federal Reserve Bank of Kansas City.
During the question and answer session, Mr. Kuroda defended the BOJ’s policy prescriptions as “completely justified” and said there was no evidence it was raising risks to the stability of the financial system. Japan’s financial system is “quite sound,” he said.
Japan’s problem has been continuous deflation, and the bond-buying program is designed to fix that, he said".
