April 8, 2019 / 1:08 AM / 2 months ago

BOJ's Kuroda sticks to view Japan's economy expanding moderately

FILE PHOTO : Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan October 31, 2018. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the country’s economy was expected to continue expanding moderately, although exports and output could feel the pinch from slowing overseas demand.

He also said Japan’s financial system remained stable.

“Core consumer inflation is expected to gradually accelerate toward 2 percent as the output gap remains positive, and medium- to long-term inflation expectations heighten,” Kuroda said in a speech at a quarterly meeting of the central bank’s regional branch managers.

Under a policy dubbed yield curve control, the BOJ guides short-term interest rates at minus 0.1 percent and the 10-year government bond yield around zero percent in an effort to achieve its 2 percent inflation target.

Reporting by Leika Kihara; Editing by Chris Gallagher

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