The Bank of Japan will maintain its current monetary easing framework featuring yield curve controls as long as it needs to achieve its 2% inflation target, BoJ Gov. Haruhiko Kuroda said Monday, Jiji Press reported. The Japanese economy “remains on a moderate recovery trend,” Kuroda said at a quarterly meeting of BoJ branch managers. “We will make necessary policy adjustments based on economic, price and financial conditions,” he added. Kuroda also said that the year-on-year rate of change in the country’s core consumer price index, which excludes volatile fresh food prices, is expected to be slightly negative or move around 0% for the time being.
