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Bank of Japan Deputy Governor Hirohide Yamaguchi said on Wednesday the central bank will continue to make the contributions to overcome deflation and return to a sustainable growth path with price stability.
Speaking at a meeting with business leaders in Kagoshima, the central banker said the pace of Japan's recovery is likely to slow down in the coming months as the stimulus measures taken at home and abroad begin to gradually lose their impact.
But he expects the economy to regain momentum from the summer of this year led by higher exports to emerging economies.
"If judged necessary, due, for example, to economic and price developments as well as changes in financial conditions, the bank is always prepared to implement appropriate measures at an appropriate timing," said Yamaguchi.
Japan's economy has been dogged by unemployment, deflation and a strong yen that has hurt the competitiveness of its goods in the export market.
The economy grew 1.1% between October and December after its third quarter growth was revised down to nil from 0.3%, but its inability to overturn deflation has sparked fears that growth could stall.
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