The BOJ is in a bind
Japan's central bank has essentially abandoned an earlier pledge to meet the goal in roughly 2 yrs
The BOJ maintained its view that the world's third-largest economy will expand moderately
BOJ maintained its assessment for six areas to say their economies continued to recover moderately
Six of the nine BoJ regional branch managers said their areas' economies continued to recover moderately
The BoJ's quarterly report is due out on November 1 after a two-day policy board meeting
The BOJ last month switched its policy to target interest rates and away from expanding the monetary base
Kuroda also said there will be no significant changes in the management of the central bank's balance sheet
To hit its 2% inflation target as soon as possible
The dollar weakened 1.5% to 103.67 yen, its biggest one-day decline since June 24, after the Brexit
BOJ is likely to cut its inflation forecasts, but only slightly, which may allow the bank to justify standing pat for the time being
An unwelcome yen rise and weak consumption threatened to derail a fragile economic recovery.