TOKYO, Oct 9 (Reuters) - Japan is alone among advanced anddeveloping nations in suffering from deflation, and solving itis the job of the central bank, Asian Development Bank PresidentHaruhiko Kuroda said on Tuesday.
The Bank of Japan still has many tools available to it tobeat deflation, such as buying more government bonds ortargeting assets such as index-linked bonds, shares and privatedebt, Kuroda told reporters in a group interview.
On calls from some Japanese politicians for the central bankto buy foreign bonds to help weaken the yen, Kuroda said the BOJis prohibited from doping so under current Japanese law.
Kuroda is visiting Tokyo to attend this week's InternationalMonetary Fund meetings.
With interest rates virtually at zero, the BOJ uses as itskey monetary easing tool a pool of funds to buy assets rangingfrom government bonds to corporate debt as well as trust fundsinvesting in shares and property. It does not buy foreign bondsor shares directly from the market.
(Reporting by Yoshifumi Takemoto; Writing by Leika Kihara;Editing by Michael Watson)
Keywords: IMF/ADB BOJ