The Bank of Japan will do what is necessary to defeat deflation, BOJ Gov. Haruhiko Kuroda said, declining to discuss specific additional measures it might take.
The central bank's asset-purchase program has "been exerting its intended effect, which is quite encouraging," Kuroda said at the Council on Foreign Relations in New York on Thursday. "By continuing to pursue" this policy, he said, "we are convinced that we will definitely overcome deflation."
The benchmark Nikkei 225 stock average has gained 37 percent this year through Thursday as the weakening yen helped boost profits of exporters from Toyota Motor Corp. to Sony Corp.