BoJ's Kuroda: We're not in deflation, as defined as sustained period of price declines

"It certainly took more time than we hoped for but I'm sure we will achieve our 2% inflation target," Bank of Japan (BoJ) Governor Haruhiko Kuroda said on Wednesday.

"We're not in deflation, as defined as a sustained period of price declines," Kuroda added. "I don't think the BoJ's policy mix, or coordination with the government to battle COVID-19, would make the central bank less independent."

Market reaction

The USD/JPY pair edged slightly lower on these comments and was last seen losing 0.15% on the day at 105.55.