BOJ's Kuroda, Abe meet amid financial market volatility

Bank of Japan chief Haruhiko Kuroda said Thursday that he had exchanged views with Prime Minister Shinzo Abe on recent economic and financial market conditions, at a time when equity and foreign exchange markets are widely fluctuating.

"I told the prime minister that the BOJ, needless to say, will promote quantitative and qualitative monetary easing with a strong determination and will prop up the Japanese economy," Kuroda told reporters after meeting with Abe.

With the economy bouncing back, "Volatility in the financial market will taper off gradually," said Kuroda, who visited the prime minister's office to discuss global economic matters ahead of the Group of Eight summit in Northern Ireland next week.

Kuroda added that recovery in the world's third-largest economy is "gaining momentum."

Abe was quoted by the BOJ governor as saying that the government will continue to play a role in shoring up the country's economy by taking necessary steps, such as steadily implementing its growth strategy, which the Cabinet plans to endorse on Friday.

Earlier Thursday, the 225-issue Nikkei Stock Average briefly dived more than 6 percent, while the U.S. dollar fell sharply and was trading below 95 yen for the first time in about two months.