In a recent interview with Kyodo News, the BoJ chief appeared to play down a view in financial markets that the bank is likely to further ease its monetary policy as early as the first half of 2014. "As long as the economy moves as expected, we will continue with the current policy," he said.
Regarding a possibility of additional easing, Mr Kuroda said, "We will make adjustments as appropriate to achieve the price stability target" by examining economic data each month.
"Basically, I believe that the economy will grow steadily" despite some up and down swings generated by last-minute and weakened demands before and after the tax hike, Mr Kuroda said, referring to the BoJ's forecast of a 1.5% growth in the real economy in fiscal 2014 starting in April.
Mr Kuroda said present situations differ considerably when compared with 1997, when the consumption tax was increased for the first time, to the current 5% from 3%, as Japan's financial institutions are now robust and emerging economies are experiencing relatively high growth although the pace has slowed to some extent.
"Consumer spending and housing investments are resilient recently," Kuroda said, adding that consumption is likely to further strengthen if incomes increase. "We hope that wages would be increased, including regular wage," as prices are likely to rise in line with a wage increase.
Mr Kuroda noted that growth in Japan's exports has been weaker than projected in April 2013, when the BoJ introduced large-scale monetary easing steps, as European and emerging economies have been weak.
But they are likely to recover gradually due to improvement in the global economy, which is expected to grow at a faster pace led by the United States and Europe, he added.
"There has been clear improvement in the US economy when compared to one and two months before," he said, adding that the European economy has hit bottom and is expected to start recovering. "I do not believe that downside risk is so large."
To beat deflation, the BoJ vowed in April 2013 to attain an inflation target of 2% in about two years with its monetary easing steps centering on doubling the monetary base and purchases of government bonds.