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Financial News: BoJ's Iwata Says Still Long Way To Go

BoJ's Iwata Says Still Long Way To Go To Achieve 2% Inflation Target

06/22/2017 - 01:51:00 (RTTNews)

(RTTNews) - There is still a long way to go before achieving the inflation target of 2 percent, Bank of Japan Deputy Governor Kikuo Iwata said Thursday.

Further, risks have continued to be skewed to the downside, particularly those regarding developments in overseas economies and Japan's inflation expectations, he told business leaders in Aomori.

Although the economic growth in Japan has taken hold more firmly, the inflation momentum is not yet sufficiently firm, he noted.

Under these circumstances, the Iwata said it is necessary that the bank persistently pursue monetary easing under quantitative and qualitative monetary easing with yield curve control.

"I do not think at all that it is time that we reduce the level of monetary accommodation, which may not be very high at present compared to that in the United States, by raising interest rates," the banker said.

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