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(MNI) London

The sharp rise in U.S. consumer prices reported Wednesday will not prompt the Federal Reserve to change its monetary policy, Bank of Japan governor Haruhiko Kuroda told a Diet committee

"As (does) Fed Chairman Powell, I think the recent rise in CPI is a temporary move," Kuroda told lawmakers.

He said that he sees no need to change the BOJ 2% price target, although it takes some time to hit that goal and the now isn't the time for the BOJ to consider normalizing its policy. He added that the BOJ will communicate with financial markets in a timely manner on its strategy and direction of monetary policy if the BOJ gets close to achieving the 2% price target.

As for possible future sales of ETFs (exchange traded-funds), Kuroda said that the BOJ wants to avoid disturbing markets and from posting losses.

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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