The Bank of Japan (BoJ) Governor Haruhiko Kuroda said in a speech to business leaders in Nagoya on Tuesday that the boost of stimulus measures in October was necessary to beat deflation.

Kuroda declined to comment on the yen's recent rapid fall.

The BoJ governor noted that a weak yen is positive for exporters, but it weighs on household incomes because of rising import costs.

Kuroda pointed out that the central bank will adjust its monetary policy if needed to achieve its 2% inflation target by next year.