BOJ’s Kuroda: Don’t think BOJ is nearing limit in expanding monetary base

Bank of Japan’s (BOJ) Governor Haruhiko Kuroda, while speaking in Parliament on Thursday, tried hard to counter the widespread belief that the central bank has run out of ammo by stating that there is non upper limit when it comes to expanding monetary base. 

The BOJ has been expanding monetary base by 80 trillion Yen per since October 2014. Even so, the 2% price target remains elusive.

Kuroda added that he does not think the BOJ is nearing lift in expanding base money and called modern monetary theory an extreme idea.