Bank of Japan Policy Board member Miyako Suda reiterated the central bank's view Wednesday that the economy will continue to expand gradually, saying upside and downside risks for growth are evenly balanced.
"In my view, upside and downside risks for the economy are almost balanced, while the economy's outlook is highly uncertain," Suda said at an economic forum in Tokyo. "The central bank will make persistent efforts to achieve sustainable growth with stable prices."
Stocks rose and the yen weakened this past week on increased speculation that the BOJ may take more policy actions to counter deflation. Suda, who opposed some emergency lending measures the BOJ implemented amid the global financial crisis, reiterated its pledge to support the recovery with monetary policy.