21.10.201604:17:00UTC+00BOJ weighs scaling back inflation projection – Kuroda

Bank of Japan Governor Haruhiko Kuroda signaled the likelihood of the central bank to lower its core inflation estimate for the following, noting the pace of price hikes is taking the negative side.

The BOJ head said he was contented with the impacts of its new policy scheme they unveiled last month, seeking to guide sovereign bond yields of wide time segments.

Kuroda said policymakers have seen slight chances that the economy and prices will change since its decision in September. He added the yield curve will not improve anytime soon.

He also said it is challenging to maintain the zero yield of the 10-year note. However, the BOJ has not determined particular range for rate.

The central bank projected inflation will hit 2% in the following fiscal year.