BOJ's Kuroda says economy recovering moderately

[TOKYO] Bank of Japan Governor Haruhiko Kuroda said on Thursday the economy is recovering moderately as a trend with the pain from a sales tax hike in April subsiding. "The BOJ will maintain its quantitative and qualitative easing for as long as needed to achieve and stably maintain 2 per cent inflation," Kuroda said in a speech at a quarterly meeting of the bank's regional branch managers.

The BOJ has kept monetary policy steady since expanding its massive stimulus programme in October last year, a move aimed at preventing weak demand and slumping oil prices from delaying an end to deflation.

REUTERS