Stimulus is here to stay but no need to expand it soon: BOJ

Tokyo

BANK of Japan governor Haruhiko Kuroda stressed his resolve to maintain massive stimulus for a prolonged period but shrugged off the need to expand it soon, remaining upbeat on the outlook despite signs the economy may be in a mild recession.

Mr Kuroda also stuck to his view that a weak yen is positive for Japan's economy. But he slightly modified his tone by nodding to concerns from the business community that further yen declines will hurt small firms and households by boosting import costs.

"If the currency moves reflect…