Bank of Japan Gov. Haruhiko Kuroda pledged Monday to continue pursuing monetary stimulus in close coordination with Prime Minister Shinzo Abe's government to achieve 2 percent inflation.
"The Japanese economy is getting stronger under the powerful monetary policy of the Bank of Japan, and we see a steady move toward 2 percent inflation. Going forward I will work toward meeting this goal with all my strength," Kuroda said at a news conference as he began his next five-year term as governor of the central bank.
The BOJ and the government set their elusive 2 percent inflation goal in January 2013, when both parties took the unusual step of releasing a "joint statement" stating their intention to coordinate policy.