Investing.com - Bank of Japan Governor Haruhiko Kuroda on Monday said the economy is on a likely moderate expanding trend with core consumer prices slightly negative to flat, adding that the central bank will take further action to boost growth if needed.
"Japan's economy is expected to expand moderately as a trend," Kuroda told a meeting of BoJ regional branch managers.
In September, the BoJ said it would target the yield curve and move away from expanding the monetary base.
"The BoJ will continue expanding the monetary base until the year-on-year rate of increase in the observed CPI exceeds the price stability target of 2% and stays above the target in a stable manner," he said.
"The year-on-year rate of change in the CPI is likely to be slightly negative or about 0% for the time being, because of the effects of the decline in energy prices," Kuroda said.