BoJ's Kuroda: CPI likely to hit 2% around fiscal 2015/16

FXStreet (Bali) - BOJ’s Kuroda, in today's press conference, said that the Japanese economy has continued to recover moderately, adding that the virtuous cycle seen working.

Kuroda added that "exports are set to recover moderately due to overseas recovery and weak yen". In terms of private consumption, Kuroda said "it remains firm as a trend, with sales tax hike to wane gradually."

As per the prospect of inflation, Kuroda notes that "CPI is likely to hit 2% around fiscal 2015/16." While on the recent QQE2, Kuroda said that "expects expanded QQE to strengthen transfer mechanism of monetary policy."