Bank of Japan Governor Haruhiko Kuroda on Friday expressed regret over its failure to attain a 2 percent inflation target through powerful monetary easing during his 10-year tenure, saying that such accommodative policy should continue to support robust wage growth.
Speaking at a press conference after his last policy meeting, Kuroda said the benefits to the economy of monetary easing "far outweigh" its side-effects.
Kuroda, whose term ends in early April, expressed hope that his successor Kazuo Ueda will guide monetary policy to ensure stable and sustainable inflation. Japan's parliament on Friday approved academic Ueda's nomination as the next governor.
