a lot of people talk about kuroda.eryone will be looking at mario draghi, wondering whether he can do the same. when you look at a bank like the making thek of japan nikkei 400 eligible for purchases, the ecb is never going to be the bank of japan. >> they don't seem to be heading in that direction. who knows where the next central bank will be to buy equities? certainly, there is a lot of potential currency volatility out of these policies. but they are necessary policies. gaps,we close these europe still has a very large output gap, until these gaps get consistent inflation, then we have got a risk that these policies continue to expand. >> fascinating morning. we could talk forever about the central banks but we will save that for another time. as we head to the break, let's check in on a couple of banks. b.n.p. paribas open's to 11% boost in profit. rbs also posted its first third-quarter profit in years. we will bring you more on those later. stocks are up across the board. ♪ >> welcome back to "on the move ." i'm

bank of japan governor haruhiko kuroda spoke after the meeting and said he feels the economy will keep recovering moderately for some time despite weaknesses in areas such as corporate output. he says corporate earnings are strong and jobs and income have been growing. and he said the impact of the tax hike is beginning to ease. >> translator: basically i think that in both the household and corporate sectors, people began spending their earnings, and that generated a positive flow of funds. >> kuroda also said the central bank's monetary easing program has been working. and policymakers at the bank will consider applying more easing, if necessary. but he said they'll study the risks involved with that first. >>> officials at japan's cabinet office say an important economic indicator declined in august. they say the coincident index was down for the first time in two months. and they say the economy has likely entered a sluggish phase. the officials say the index stood at 108.5, down more than one point from july. the base of 100 set in 2010. they calculate the figure by weighing indus

you know, the boj governor kuroda is really sticking to his views that he can achieve 2% inflation in about the two years despite maybe some indications that it won't hit that. do you think he's being a bit too optimistic? >> well, as you pointed out at the outset, they expect the rate of inflation for fiscal year 2015 was revised downward from 1.9 to 1.7%. which indicates that -- which may suggest that the achievement of the target in fiscal year 2015 is very difficult. so, many, including myself, economists think that this achievement of the target in two years is very difficult, if not impossible. >> so why does he stick to it, do you think? >> well, you know, the main purpose of this policy is to change people's expectations. so he has to show that he sticks to the original aim, and he does everything he -- is in his disposal to achieve it. >> okay, if we take a look at the votes, it wasn't very popular. four of the nine board members voted against it. as a former board member give us some insight into what was going on in that board room, and why do you think the four voted again

kuroda did this morning?ery much a stock picker and we are just focused on individual companies and how they can benefit from all of these and as long as we do a good job and pick companies that can benefit, i think we can still -- we still perform. taiwan, korea and japan, the knock on effect is massive. >> yeah. the japan government pension fund said it would put half of its holdings in local and foreign stocks all as a way to seek higher returns. >> what does it -- it's game changing, isn't it? >> yeah. for the economy, definitely. and as julian said, they're definitely very determined to give a fighting chance for japan to get out of inflation. >> julian, from where you sit, have we achieved escape velocity out of this crisis? >> well, i think japan is certainly doing everything they can and they're making progress. >> julian, you can't fix fundamentals with monetary policy. and one of japan's biggest fundamental problems is its demographics. do you see them fixing that in some way? what has to happen the

and bank of japan governor kuroda are at the g20 meeting. they're expected to sluggishnes japan's economy is temporary and due to a hike in the consumption tax. the japanese officials are likely to say their economy will continue its moderate recovery. >>> well, the head of the imf spoke to reporters on the sidelines of the meetings. they said growth in the global economy is slower than expected. >> in the face of what we have called the risk of a new mediocre where growth is low and uneven, we certainly believe that there has to be a new momentum. >> lagarde called on leaders to implement fiscal policies that focus on growth. she urged the euro zone and japan to shore up their economies with monetary easing. well, investors, they're also worried by the slowing growth rate, and they're pulling their money out of stocks. in tokyo investors are selling shares across all sectors, checking a day of heavy losses on wall street. the nikkei currently down just about 1%. investors are also selling stocks across asia. hong kong's hang seng is lower.

. >> does this mean you like haruhiko kuroda more than janet yellen?king about janet's jell-o shots, as her exciting way to distribute stimulus, i think we have to come up with some sort of sake drink for mr. kuroda. i was working on that commentary this morning. david, i'm looking forward to that. you are saying the ecb is going to have to follow the bank of japan was something similar. what could possibly be similar to what the boj is doing? draghi's hands are more tight. >> you had the legendary julian robertson on the show. he was making the point is really is a kind of currency a growth battle, more portly, and there is no sort of pride in having a strong currency in these types of markets. people are fighting for the limited amount of growth that's out there and fighting the deflationary forces that are definitely within the global economy. i think this just puts additional pressure on mario draghi. he is a difficult choice. the bank of japan, amazingly enough, has so many pools. these guys triple the amount of equities they're going to buy. the

governor kuroda showed that he has game. the weighty markets are reacting, look at the yen, the is looking atrld japan, this is what he ones. the issue is tomorrow and send it when people realize that we have more money coming into the system. a lot of money has not ended the malaise. make japan more competitive -- lucent labor markets and empower women. japan more entrepreneurial. we have not seen that. da-nomics.remains kuron it is a monetary phenomenon and we are waiting for the structural part. was about trying to change the subject and the direction of reform. the problem is tomorrow morning. >> thank you. there in tokyo. to put everything in context, we talk about the japan pension fund. it is quite impressive. the amount of money it manages is the size of mexico's economy. it could buy exxon, toyota, and apple and have change. that is why we put it hand-in-hand with what the bank of japan is doing. corporate news, rbs returns to profit. third-quarter profit beat estimates. it set aside 400 million pounds to settle a c

. >> the following is a paid presentation by haruhiko kuroda -- by unitedhealthcare.are disappointed me. i have been very pleased with the service i have received. >> the thing to know is that it is a quality company. it is much larger than you

army lieutenant generousal, he not only led the post hiroki kurodae katrina task force but make sure. is prepared to pandemics and bio-terrorism disasters. which it comes to ebola in the united states, i keep hearing government officials saying everything is okay. general is everything okay? >> it sounds very much like a play bake prior to 911 unone of our biggest threats were concerned about pandemic, end decembeepidemics and bio-terrore lessons that we learned in training seem to be playing out again as the nation and world grapple with this how to defeat this ebola out break. normally it started off just like this would get in a scenario, misdiagnoses, not reporting, somebody assuming in some case that well, we have to worry about the patient privacy. the next thing you know we had an out break. over and over again when we train, what it came down to was the discussion that you were just having with the previous gentlemen, is an absence of attention to detail, the medical community hide under this thing called protocol. what is a protocol? is it a law? do you have to follow it? do

so the question is are the doj's efforts delivers credit as hope and the government kuroda suggests that it starts with income growth. yet, the consumer confidence survey announced showed weak sentiment for the second straight month. the fact that april's tax hikes are lingering, and if other economic indicators for the july/september period are not strong enough, they'll have to post tone until the next tax year. >> thank you very much. >>> in another news, a north korean party marked its 69th year in power one was missing from celebration, their leader kim jong-un who has not been seen in public. so is kim jong-un gone? sources say he's just resting an aggravated injury sustained in a military drill over a month ago, and that he is still in full control. we'll keep you up to date in that story. >> i didn't know he took part in the military drills. >> apparently does. >> 31 years old. >> quite young, perhaps, very young to be an autocratic leader. >>> still to come on this show, are diamonds a brilliant investment for your portfolio? we bring you more clarity on how to invest on the shi

. >> kuroda also cautioned that the trend could be short lived. >> lower oil prices are good for asia because asia is the largest import in the world. not just japan but korea, china, india, pakistan. even indonesia now is an oil importer. so asia has a whole is a huge oil importer. and the grind on prices would be very beneficial to the entire asian economists, also for china, pakistan, and so on. but having said that, oil prices tend to fluctuate. at this stage, destate the heightened geopolitical risks in the middle east, somehow oil prices continue to climb. maybe increased supply by some african countries or substantial increase to energy production in this country in the u.s. so this is a surprise factor, which might reduce oil prices. >> and joining us now is gotham veteran strategist. i want to talk about the markets last week, what was driving that? >> it's a combination of concerns of qe coming to an end, some witness the political growth, the geopolitical risks we are seeing around the world. and people were a bit too extended into risk. and so it's a natural cause. remembe

i think kuroda is going to go and have his draghi moment.s going to say, we're going to have to do whatever it takes to get to 2% cpi inflation. they still run 10% fiscal deficits. we think they're going to run a current account deficit of 2% to 4% next year. japan is going to have to buy more bonds, and the u.s. is going to buy no more. so when the training wheels come off the market in central bank land, macro becomes functionally much more relevant. so this policy divergence is going to be something not only between the u.s. and japan but u.s., japan, and europe as we heard. europe is going to have to go all in to arrest their deflat n deflation. you have the u.s. tapering to zero. you have europe. draghi is really going to have to go all in and finally get to overt qe. japan is going to have to print much more money than they ever have. that environment means strong dollar, no matter how anyone looks at that. how does that get factored into corporate america as we've seen in the last several months? it has proven to give some consternati