Japan to Overcome Deflation Says BOJ’s Kuroda

The Japanese economy is on track to overcome deflation, Bank of Japan Governor Haruhiko Kuroda said at the 2013 Bretton Woods Committee International Council Meeting in Washington on Thursday.

The BOJ will maintain the current aggressive monetary easing policy until its target of 2 pct inflation is achieved, Kuroda said in a speech at the meeting, which brought together key economic figures.

Speaking to reporters after the speech, Kuroda called on the United States to resolve the ongoing fiscal deadlock as soon as possible and lead the global economy.

Kuroda expressed his concern that a U.S. government default could have a serious impact on financial markets and the global economy although he noted that he does not believe the event will happen.

Kuroda will attend a meeting of finance ministers and central bank governors from the Group of 20 advanced and emerging economies later in the day.


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