The Bank of Japan Governor Haruhiko Kuroda said at BoJ's quarterly meeting of regional branch managers (32 domestic branches and general managers based in the U.S. and Europe):

• The BoJ's stimulus programme is producing the intended effects;
  
• The BoJ will maintain its stimulus programme for as long as necessary to achieve its 2% inflation target;
  
• "The BOJ will examine upside and downside risks to the economy and prices, and adjust monetary policy as needed";
  
• Japan's has continued to recover moderately, despite a domestic sales tax hike in April;
  
• Japan's financial system has remained stable.