U.S. Markets closed

BOJ Kuroda: Japan on path to meeting two percent inflation target

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the country was making steady progress towards achieving the central bank's 2 percent inflation target.

"Japan's economy is likely to continue recovering moderately driven by a positive cycle of output, income and expenditure," Kuroda said in a speech to a quarterly meeting of the central bank's regional branch managers.

The BOJ offered an intense burst of monetary stimulus in April, pledging to double the county's base money via aggressive asset purchases to achieve 2 percent inflation in two years.

(Reporting by Leika Kihara; Editing by Edmund Klamann)