BOJ Kuroda: To adjust policy as needed to hit 2 percent price goal

October 16, 2016 8:45 PM EDT

Governor of the Bank of Japan Haruhiko Kuroda attends IMFC plenary during the IMF/World Bank annual meetings in Washington, U.S., October 8, 2016. REUTERS/Yuri Gripas


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TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank will adjust monetary policy as needed to achieve its 2 percent inflation target with an eye on economic, price and financial developments.

"Japan's economy is expected to expand moderately as a trend," Kuroda said in a speech at the central bank's quarterly meeting of its regional branch managers.

The BOJ last month switched its policy to target interest rates and away from expanding the monetary base - or the pace of money printing - after years of massive asset purchases failed to jolt the economy out of decades-long stagnation.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)



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