BOJ’s Kuroda expresses resolve to keep ultra-easy monetary policy

TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda on Monday stressed that the central bank would maintain its ultra-loose monetary policy until inflation hits its 2 percent target.

He also reiterated that Japan’s economy would see inflation accelerate towards the BOJ’s target as the output gap improved and medium- to long-term inflation expectations heightened.

“Japan’s economy is expected to continue expanding moderately,” Kuroda said in a speech at a quarterly meeting of the central bank’s regional branch managers.

Under a yield curve control policy adopted in 2016, the BOJ pledges to guide short-term interest rates at minus 0.1 percent and the 10-year government bond yield around zero percent.

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