URGENT: Monetary tightening not "suitable" at all: BOJ chief Kuroda

Monetary tightening is not a "suitable" measure at all for the Bank of Japan as the Japanese economy is still in the middle of recovery from the COVID-19 pandemic and higher commodity prices are adding downward pressure, Governor Haruhiko Kuroda said Monday.

Even though core consumer inflation jumped 2.1 percent in April from a year earlier, it does not mean the BOJ's 2 percent inflation target has been achieved, Kuroda said, stressing that the central bank will not waver in its aggressive monetary easing to support the economy and ensure more robust wage growth.

He made the remarks at an event organized by Kyodo News.

© Kyodo News