The Bank of Japan (BoJ) Governor Haruhiko Kuroda said in his speech notes on Tuesday that the BoJ's and the European Central Bank's (ECB) monetary policies would succeed in the near future.

"I believe that monetary policy in both the euro area and Japan will succeed in the near future, thereby starting a new chapter for macroeconomics," he said.

Kuroda noted that inflation in Japan improved, supported by the labour market. He added that the central bank is only halfway to its 2% inflation target.

Kuroda cancelled his participation in the conference organised by the Bank of France but his speech notes were published on the BoJ's website.