Bank of Japan Governor Haruhiko Kuroda pledged to continue easing until a 2 percent inflation target is reached, in a sign he wants the central bank to strengthen its commitment to ending deflation.
Bank of Japan board member Ryuzo Miyao said sustained yen gains may affect the central bank’s economic outlook, the Asahi newspaper reported. Miyao told the newspaper in an interview that he will monitor the situation.
The International Monetary Fund and World Bank will hold their spring meetings in Washington as finance ministers and central bankers from the Group of 20 plan a parallel gathering.
Japan’s inflation may rise above 1 percent in the year starting April 2014 and approach a 2 percent target either that year or later, central bank policy board member Ryuzo Miyao said.