Kuroda Signals Quick Easing Action If Confirmed as BOJ Governor

Bank of Japan governor nominee Haruhiko Kuroda signaled a readiness for a quick expansion in the central bank’s stimulus, and reiterated confidence in the power of monetary policy to defeat deflation.

A weakening in the yen from “excessive gains” has been predicated on expectations of easing, a circumstance that won’t last forever, Kuroda, the Asian Development Bank chief, told lawmakers in his second Diet confirmation hearing today. The current scale of asset buying is “not a strong enough commitment to quickly achieve the 2 percent inflation target,” he said.