Aug 28 (afr.com) - Bank of Japan Governor Haruhiko Kuroda has pledged to forge on with very accommodative monetary policy as he warned that his inflation target remains distant and the current pace of growth in the world's third-largest economy looks unsustainable.
Speaking in an interview with Bloomberg Television, Kuroda also said the BoJ's yield-curve control program has been working quite well and that he doesn't see a need to adjust it at present. He added that the BoJ may be able to control rates while buying fewer Japanese government bonds and that the market is still "functioning quite well."
The BoJ chief, who recently joined Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the Jackson Hole, Wyoming, annual gathering of monetary policy makers, is grappling with an economy that's in its longest run of expansion in more than a decade but is still failing to generate significant wage gains and a healthy level of inflation.
