April 10, 2017 / 12:36 AM / 2 years ago

Bank of Japan's Kuroda repeats resolve to maintain massive stimulus

FILE PHOTO: Bank of Japan (BOJ) Governor Haruhiko Kuroda speaks during an upper house financial committee meeting of the Parliament in Tokyo, Japan February 18, 2016. REUTERS/Toru Hanai/File Photo

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

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