The perception of inflation by Japanese firms and households improved markedly, Bank of Japan Governor Haruhiko Kuroda said Friday.
This is because the bank presented a time frame to achieve the price target at the earliest possible time with a time horizon of about two years, he told Yomiuri International Economic Society in Tokyo.
He reiterated that the bank is committed to do whatever is necessary to achieve the 2 percent inflation target.
The underlying trend in inflation has improved steadily and as the effects of the decline in crude oil prices dissipate, the annual inflation is projected to accelerate toward the price stability of 2 percent, he noted.
"If the economy continues its turnaround and deflation is to be overcome, Japan will provide a rare example of a regime shift through macroeconomic policy," Kuroda said.
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