Bank of Japan (BoJ) Governor Haruhiko Kuroda said before the parliament on Tuesday that the central bank was ready to add further stimulus measures if the downside risks to inflation increase. He added that there was no need for further easing at the moment as the effect of negative interest rates was very strong.

Kuroda noted that the BoJ's next move will depend on the economic and price developments.

He pointed out that the central bank would not predetermine its moves.