Bank of Japan Governor Haruhiko Kuroda said on Tuesday that he had no intention to resign before his term ends in April 2023.

An opposition lawmaker said the quantitative and qualitative monetary easing introduced by Kuroda, which had produced a weak yen, was a failure and he should resign.

“(I) have no intention to resign,” Kuroda told lawmakers at the Lower House budget committee.

He added that the easy policy was effective in beating deflation, driving a recovering in the economy and improving the labor market.

“Your assessment is wrong that easy policy is a failure,” Kuroda said.

Prime Minister Fumio Kishida, who appeared at the same panel, said he had no plan to change a joint statement between the government and the BOJ made in 2013, which included the BOJ commitment to achieve a 2% price target.