TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Monday reiterated the central bank’s resolve to maintain its massive monetary stimulus until inflation is stably above its 2 percent target.
“Japan’s economy continues to recover moderately as a trend. As for the outlook, it is expected to turn to a moderate expansion,” Kuroda said in a quarterly meeting of the central bank’s regional branch managers.
Under a new policy framework launched in September last year, the BOJ now guides short-term interest rates at minus 0.1 percent and the 10-year Japanese government bond yield around zero percent through aggressive asset purchases.
Reporting by Leika Kihara; Editing by Chris Gallagher