Kuroda: Measures taken by BoJ sufficient to meet 2% inflation target

FXstreet.com (Barcelona) - BoJ Governor Haruhiko Kuroda said on Wednesday that the monetary policy decisions taken last week should allow for attaining the 2% inflation target in two years time. He also added that he did not expect an “avalanche” of Japanese capital outflows resulting from the aggressive easing move.

The BoJ head expressed his satisfaction with the yen’s decline to the lowest level in nearly four years following the policy meeting. "The markets are moving in an anticipated direction so far," he declared, suggesting that the currency is still in a corrective phase following its excessive rise due to the debt crisis.

Additionally, Mr Kuroda assured that the BoJ will abandon the system of incremental policy steps, changing the policy it only when the need arises. "We aren't planning to take additional measures one after another," he said.