Signaling a new era for the central bank, the nominee to be its next governor, Haruhiko Kuroda, on Monday castigated the BOJ for failing to pursue an effective course of quantitative easing and vowed to do "everything possible" to end 15 years of deflation.
Asked to set an official timetable to achieve a 2 percent inflation target, the 68-year-old head of the Asian Development Bank declined, but said he would have "two years" in mind if endorsed by the Diet as the new governor.
"The BOJ should implement bold credit-easing measures and achieve the 2 percent target as soon as possible," he told a hearing at the Diet.