Bank of Japan Gov. Haruhiko Kuroda has said the central bank "will not hesitate" on monetary easing if necessary, but noted that the Japanese economy's moderate recovery means such action is not currently warranted.
Referring to the bank's forecast that the economy will grow about 1 percent in fiscal 2016 and accelerate 1.5 percent in fiscal 2017, largely due to hefty fiscal stimulus, Kuroda on Saturday ruled out further easing for the time being.
"At this stage we don't think it's necessary to further reduce" the negative 0.1 percent rate on some reserves that commercial banks park at the BOJ, he said.