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Kuroda Higashihiko, President of the Bank of Japan, says the central bank will let the market know how the central bank plans to withdraw from the ultra loose policy when the conditions for reaching the central bank's price target have become stable.
But he said that it is still too early to discuss when the central bank may withdraw stimulus when inflation remains far from the central bank's target of 2%.
"Once the inflation rate accelerates to 2%, and the conditions for reaching the target are in place, we will specifically convey how the central bank plans to withdraw," Kuroda Higashihiko said on Tuesday to the Senate for a semiannual statement.
"At the moment, we do not think that the conditions for considering specific exit time are ripe," he said. Before the inflation rate reaches 2%, the Bank of Japan will not end its ultra loose policy.
Japan's April core consumer price increase slowed for second consecutive months, making it more likely that weak inflation would make the Bank of Japan unable to reduce stimulus in the short term.
However, as the cost of long-term easing policy continues to rise, the Bank of Japan policymakers have begun to discuss how to gradually withdraw from the policies implemented during the crisis.


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