BOJ's Kuroda - Central bank has not achieved 2 percent inflation target

Bank of Japan (BOJ) governor Kuroda, during his confirmation hearing in the Lower house, said the economy has improved a lot in the past five years, still the central bank has not achieved the 2 percent inflation target. 

Key quotes (source: Reuters)

• Deflationary mindset is key reason why price target of 2% is not yet achieved
• It has become clear it will take some time to change public inflation expectations
• Wage, prices are gradually rising and inflation expectations are turning up
• Persistent monetary easing will help to achieve price target
• Will put priority in hitting price target and will guide policy with utmost focus to achieve it