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

"If risks materialize and lead to changes in trend inflation, the BOJ won't hesitate to adjust policy as needed to achieve its price target at the earliest possible time," he said.

Kuroda also pointed out that the interest rate hike by the Fed will not have a negative impact on the global economy.

"Fears that U.S. rate normalization would trigger a massive, sharp outflow of funds from emerging economies and disrupt the global economy appear to be receding somewhat," the BoJ governor said.

Kuroda noted that a weaker yen hurts smaller companies and households by higher import costs.