Bank of Japan Executive Director Seiichi Shimizu made some comments on the central bank’s inflation target, in his speech following the Japanese Consumer Price Index (CPI) released on Tuesday.

Shimizu said that the “likelihood of inflation target achievement is still not sufficiently high.”

“The BoJ will review its massive monetary easing when it can foresee the achievement of inflation target confidently, and it will "rigorously" check wage trends along with price data,” he added.