BOJ's Kuroda says will use all available means to beat deflation

Reinforces expectations of bold monetary stimulus ahead of policy-setting meeting on Thursday

Bank of Japan Governor said the central bank will use all options available to achieve its 2% inflation target, reinforcing expectations of bold monetary stimulus ahead of his first policy-setting meeting on Thursday.

He also reiterated his pledge of achieving the inflation target in two years by taking aggressive monetary policy both in terms of the volume and type of assets it purchases.

"It is not easy to beat deflation, which has continued in Japan for 15 years. But the BOJ will use all options available and do whatever it takes to show markets its strong commitment," Kuroda told a lower house Parliament committee on Tuesday.

"It's important to communicate well our strong commitment to change market expectations. It's also important to meet expectations with action, so we will take bold easing measures," he said.

The central bank is expected to boost asset purchases, targeting longer-dated government bonds, and debate an overhaul of its policy framework at the two-day rate review that kicks off on Wednesday.

But Kuroda may struggle to convince others on the board of the need for a radical makeover of the BOJ's policies. While the nine board members see the need for further monetary easing, some are reluctant of making the leap too hastily.