Bank of Japan Gov. Haruhiko Kuroda said the recent pace of growth in the world's third-largest economy is probably unsustainable and pledged to continue with very accommodative monetary policy "for some time" as the BOJ is far from its inflation target.
"I think 4 percent growth is excellent but we don't think 4 percent growth can be sustained. Around 2 percent growth is likely," Kuroda said in an interview on Bloomberg Television recorded Friday in Jackson Hole, Wyoming. "I think for some time we have to continue this extremely accommodative monetary policy."
The BOJ chief, who joined Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the mountain retreat for an annual gathering of monetary policy makers, said he's watching moves by global colleagues but added that BOJ policy has to be aimed at conditions in Japan.
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