The Bank of Japan is prepared to adjust its monetary policy further if required to achieve the 2-percent inflation target, Deputy Governor Kikuo Iwata said on Thursday, reiterating the central bank's policy stance.
In s speech delivered at the Upper House Budget Committee, Iwata said that the central bank will continue to assess the risks to its economic and price outlook, and make necessary changes to meet the goal of hitting the price target.
According to Iwata, Japan's economy is on steady track towards achieving the 2 percent inflation target.
The policymaker noted that the economy will continue to recover modestly despite an anticipated fall in demand following next month's sales tax hike.
Japan's economy expanded at a below-forecast pace of 0.3 percent in the fourth quarter, unchanged from the third quarter's growth rate. GDP grew an annualized 1 percent during the three-month period.
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