Bank of Japan Gov. Haruhiko Kuroda pledged Thursday to engage in aggressive monetary easing to achieve the central bank's 2 percent inflation target and end the nation's prolonged bout with deflation.
"It is necessary to continue bold monetary easing in terms of quality and quantity under a strong commitment" to achieve the goal, Kuroda said at a hearing in the Upper House. The BOJ will clearly explain its aggressive stance to the market, he said.
Kuroda, former president of the Asian Development Bank, was appointed for a three-week run ending April 8 to complete the term of his predecessor, Masaaki Shirakawa, who resigned under political pressure on March 19. To get a full five-year term, he will have to undergo another round of Diet confirmation.