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Bank of Japan chief signals bold stimulus

The new governor of the Bank of Japan, Haruhiko Kuroda, has promised to use all options available to achieve its 2 per cent inflation target. Mr Kuroda's comments have reinforced expectations of bold monetary stimulus ahead of his first policy-setting meeting tomorrow.

"It is not easy to beat deflation, which has continued in Japan for 15 years. But the BoJ will do whatever it takes to show markets its strong commitment," Mr Kuroda told a parliamentary committee. He reiterated his pledge of achieving the inflation target in two years.