Bank of Japan Deputy Gov. Kikuo Iwata said the central bank hasn't shifted its focus away from expanding the monetary base as it seeks to reach its inflation target.

Iwata stressed that the BOJ will continue its large-scale asset purchases after it introduced a new policy framework that targets interest rates in September.

"Some argue that the bank's policy focus has shifted from quantity to interest rates under the new policy framework, but such an understanding is inappropriate," Iwata told local business leaders in Nagasaki on Wednesday.