Japan's new central bank chief vowed on Thursday to take all means available in easing monetary policy to end deflation and boost the world's third-largest economy.
"There is no doubt that the Bank of Japan (BOJ) should expand monetary easing both in terms of quantity and quality," BOJ Governor Haruhiko Kuroda said at his inaugural news conference, a day after he assumed the post, indicating that the central bank would buy more longer-term government bonds and assets from the financial market.
Kuroda, a former Asian Development Bank president, also pledged to pull the country's economy out of nearly 15 years of deflation.
"The biggest mission for the BOJ is to exit from deflation and I'm ready to use every means to achieve the 2-percent inflation target in two years," said Kuroda. "Although there would be difficulties, I am confident that we can achieve the goal." The BOJ is scheduled to hold its first regular policy meeting under the new leadership on April 3-4, which is expected to focus on easing measures.