Departing Bank of Japan Gov. Masaaki Shirakawa expressed regret Tuesday for not being able to end a decades-long struggle with deflation during his "turbulent" five years in office, but added that he believes a recovery is possible.

Speaking on his last day as the central bank chief, Shirakawa appeared at the Diet to speak at a Lower House committee meeting.

"With the easing of the yen and the rising of stock prices, I believe a chance is here," he said.