TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda on Monday reiterated the central bank’s resolve to maintain its massive stimulus program until inflation is stably above its 2 percent target.
He also said inflation is likely to gradually accelerate towards 2 percent reflecting improvements in the economy.
“Japan’s economy is expected to continue expanding moderately ahead,” Kuroda said in a speech at a quarterly meeting of the central bank’s regional branch managers.
After three years of heavy asset buying failed to drive up inflation, the BOJ revamped its policy framework last year to one capping long-term interest rates from that targeting the pace of money printing.
(Reporting by Leika Kihara; Editing by Chang-Ran Kim)