BoJ governor expects Japanese economy to return to moderate growth and will adjust monetary policy as needed

At this morning's press conference on Japanese monetary policy, Bank of Japan governor Haruhiko Kuroda said that, although markets may have been unstable since May, they are likely to stabilise over time.

He added that the Japanese economy is recovering, largely thanks to a pick up in exports due to a weaker yen, and he expects a return to moderate growth.

Policy will be adjusted as needed, he said, while watching out for both upside and downside risks to economy and price stability