Kuroda Fails to Sway Economists Forecasting Easing by Year End
"Governor Haruhiko Kuroda is failing to convince economists that the Bank of Japan has done enough to spur 2 percent inflation, with most sticking to forecasts for added easing by the year end, a survey showed.
"Nearly all economists surveyed by Bloomberg News said the BOJ will miss its goal in the fiscal year starting next April, underscoring doubts about Kuroda’s confidence in reaching 2 percent in that period. Seventy-five percent forecast more stimulus by the end of the year, compared with 77 percent last month, according to the poll conducted May 2-8.
"The divergence in views raises the stakes in the battle for credibility after Kuroda this week said economists have been “consistently wrong” on Japan. Should the governor prove correct, it would add to the stature of a central bank that’s led the country’s charge out of 15 years of deflation. If he’s wrong, the BOJ will face a tough task of regaining the market’s confidence. "
http://www.bloomberg.com/news/2014-05-08/kuroda-fails-to-sway-economists-forecasting-easing-by-year-end.html