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The Bank of Japan (BoJ) Governor Haruhiko Kuroda said at a press conference on Wednesday that the central bank will not cut its deposit rate in the "near future".
"I am not considering lowering the excess-reserve rate, and there will be no change in my views in the near future," he said.
Kuroda pointed out that the inflation is on track to reach the central bank's 2% target.
"Consumer prices are expected to stay around zero percent from a year earlier because of falling energy prices, but I think prices will gain upward momentum toward a 2 percent target once the impact of falling energy prices disappear," he said.
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