The Bank of Japan (BoJ) Governor Haruhiko Kuroda said in a press conference on Thursday that the current monetary policy was appropriate as time was needed to monitor the effects of negative rates.

He reiterated that the central bank was ready to add further stimulus measures to boost inflation toward 2% target if needed, adding that helicopter money was illegal.

The BoJ governor pointed out that there was no limit to the BoJ's monetary policy measures, noting that interest rates could be lowered further into negative territory.