BOJ's Kuroda says there's no reason to withdraw monetary stimulus now

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday there is "no reason" to withdraw the bank's massive monetary stimulus now as inflation remains distant from its 2 percent target.

"While some improvements have been observed in economic and price developments, there is still a long way to go to achieve our price target," Kuroda said in a speech at a Reuters Newsmaker event.

Kuroda added that the BOJ won't increase its bond yield target just because overseas long-term interest rates are rising.

(Reporting by Leika Kihara and Stanley White; Editing by Chris Gallagher)