NAGOYA (Kyodo) Bank of Japan Gov. Masaaki Shirakawa said Monday the central bank will do “its utmost” to overcome deflation and keep price falls from undermining the fragile economic recovery.

Shirakawa, in a speech to business leaders in Nagoya, said the BOJ is carefully monitoring the effects of the yen’s sharp rise on corporate sentiment. He emphasized it is ready to take steps to ensure stability in financial markets.

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