Bank of Japan Deputy Gov. Hiroshi Nakaso indicated Tuesday the central bank will significantly curtail its purchase of Japanese government bonds after achieving its 2 percent inflation goal.

The BOJ "has no intention of going beyond this objective and monetizing government debt," Nakaso said at a luncheon with U.S. and European business leaders in Tokyo.

Nakaso was countering a view that the BOJ could face difficulties in exiting its current ultraloose monetary policy, including the possibility the bank may be forced to keep buying state debt even after achieving the inflation goal to help prevent deterioration in debt-laden public finances.

"The bank is pursuing QQE (quantitative and qualitative easing) and purchasing government bonds solely to achieve the price stability target of 2 percent," Nakaso said.

Under the monetary policy, introduced in April 2013, the BOJ aims to achieve the inflation goal within around two years while doubling the base money it provides to the economy by purchasing massive amounts of government bonds and other financial assets from banks.