Bank of Japan (BoJ) Governor Haruhiko Kuroda estimated on Friday that Japanese inflation will be below 2% overall in fiscal 2023. "So we decided to keep the current extremely accommodative monetary policy for the time being," he said, adding that the BoJ hopes wage growth will start accelerating, which will help inflation remain at target "in a stable and sustainable manner."
Kuroda, whose term as governor ends in April, said the BoJ helped successfully fight deflation during his time in office and oversaw a rise in economic growth and employment. He said that his "only regret" is not being able to sustain the 2% inflation target.
