BoJ Governor Haruhiko Kuroda told the central bank’s regional branch managers that inflation is still expected to pick up gradually to 2% target. The economy is expected to continue expanding moderately as a trend, even though it’s affected by overseas slowdown. But still, BoJ would maintain easing for as long as needed to hit stable target.

Kuroda reiterated that short- and long-term interest rate will be kept at current very low levels for extended period, “at least through around spring 2020”. Also, monetary base will continue to expand, and QQE will be maintained under the yield curve control framework.

Also, Kuroda pledged that “the BOJ will make necessary policy adjustments to sustain the economy’s momentum towards achieving its inflation target.”

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