Bank of Japan (BoJ) Governor Haruhiko Kuroda said on Thursday that the central bank will adjust its asset-buying programme if needed.

"The bank will make necessary adjustments on monetary policy, while examining both upside and downside risks on the economy and prices," he said.

Kuroda pointed out that the BoJ's 2% inflation target will be reached once the oil prices stabilise.

The BoJ governor also said that the global economy continued to grow moderately due to a strong growth in U.S. and other advanced economies.