BANK of Japan (BOJ) Governor Haruhiko Kuroda said yesterday the country’s economy was expected to continue recovering moderately even though the slowdown in emerging markets was weighing on exports and output.

    “The BOJ’s quantitative and qualitative easing is exerting its intended effects,” Kuroda said in a speech at a quarterly meeting of the central bank’s regional branch managers.

    The BOJ has kept monetary policy steady since expanding its massive stimulus program in October last year. With inflation having ground to a halt on slumping oil prices, the central bank remains under pressure to ease again ahead of a rate review next week.

    The BOJ is unlikely to expand its unprecedented economic stimulus for now, Japanese Finance Minister Taro Aso has said over the weekend, quoting a surplus of money in the economy and weak domestic demand.

    “At this point, the government is not thinking about anything like that, and probably the Bank of Japan will not undertake additional monetary easing right now,” Aso said in an interview with public broadcaster NHK that aired Friday evening in Tokyo. The comments were confirmed by a Finance Ministry official who asked not to be identified.(SD-Agencies)