BOJ Chief Pledges to Combat Deflation

New Bank of Japan Governor Haruhiko Kuroda pledged on Thursday to launch full-scale efforts to end deflation in the country, one day after he took the reins of the central bank.

Kuroda, former president of the Asian Development Bank, made the comments when Prime Minister Shinzo Abe asked him to make all-out efforts to pull the country out of deflation, according to the BOJ governor.

Abe delivered letters of appointment to Kuroda and deputies Kikuo Iwata and Hiroshi Nakaso. Iwata, former professor at Tokyo’s Gakushuin University, and Nakaso, former BOJ executive director, also took office Wednesday.

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