BOJ optimistic about economy, inflation target

BANK of Japan (BOJ) governor Haruhiko Kuroda yesterday delivered an upbeat assessment of Japan's near-term economic prospects and of the central bank's ability to meet its 2 per cent annual inflation target.

This came in the face of market fears that the world's third-largest economy may be slowing, and that inflation will fall short of the BOJ's price goal.

A drop in personal consumption and corporate machinery orders following the April 1 hike in the country's national consumption tax, allied with recent weakening in export demand, has prompted concerns that economic recovery could be on the point of stalling.