Bank of Japan chief vows 'necessary steps' for economy if needed

TOKYO (AFP) - The Bank of Japan's new chief on Thursday said he would not hesitate to take "other necessary steps" to boost the nation's limp economy, after unveiling a raft of fresh monetary easing measures.

Following his first meeting as central bank governor, Mr Haruhiko Kuroda also said the BoJ was "resolved to take whatever measures we can think of" to hit a 2 per cent inflation target aimed at reversing decades of falling prices.

"We have taken all necessary measures this time," he told a news briefing.

"Of course, the economy and finance are living things. We will not hesitate to take other necessary steps when needed."

Mr Kuroda, who was installed as the bank's new governor last month, added that the new-look BoJ's policy would be "unprecedented in its scale and quality".

"We are resolved to take whatever measures we can think of to achieve 2 per cent (inflation) in about two years," he said.

The bank said on Thursday that it would embark on an aggressive spending programme and jack up the amount of money in circulation, while pledging to meet the inflation target as part of its battle to reverse falling prices.

The BoJ's previous management has been criticised for being too timid in its efforts to boost the world's third-largest economy.