FXStreet (Łódź) - Bank of Japan Governor Haruhiko Kuroda, who spoke at the annual meeting of the National Association of Shinkin Banks in Tokyo on Friday said that the Japanese economic recovery was progressing gradually and that the easing would continue until the 2% inflation target was reached and stable.

CPI gains should accelerate in the second half of fiscal year 2014 and the 2% target should be reached around the middle of the projection period, Kuroda predicted, adding that the BoJ would monitor risks and make adjustments whenever necessary.

The BoJ head also acknowledged that the sales tax rise has resulted in some economic fluctuations.
The USD/JPY was trading at 101.92 after the first remarks.

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