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After taking power late last year, Abe's administration embarked on an aggressive stimulus program of government spending, monetary easing and planned reforms aimed at improving Japan's competitiveness. Revised figures show Japan's economy likely emerged from a recession late last year, but other data has been mixed. Kuroda said prices are unlikely to rise for the next few months but after that Japan would see some progress toward its inflation target as the economy moved toward a "moderate recovery path." The central bank asset purchases and other strategies adopted so far have not been sufficient to reach the inflation target, he said, reiterating his intention to manage market expectations and "make clear that we have adopted the uncompromising stance that we will do whatever is necessary to overcome deflation." Kuroda was appointed to succeed former BOJ governor Masaaki Shirakawa when he stepped down on March 19, three weeks before his term expired. The parliament is expected to approve his appointment to the five-year term, which is due to begin April 8. The central bank is due to hold its first regular policy meeting under Kuroda April 3-4, when it may further boost its purchases of government bonds to help increase the amount of money available in the economy and encourage more investment by the private sector.
[Associated
Press;
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