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Financial News: Kuroda Says Japan Has To Go Long Way

Kuroda Says Japan Has To Go Long Way To Achieve 2% Inflation Target

06/09/2017 - 00:31:00 (RTTNews)

(RTTNews) - Bank of Japan Governor Haruhiko Kuroda said there is still a long way to go until the inflation target of 2 percent is achieved.

"While the policy approach has steered Japan's economy in the right direction, our intellectual journey has not yet been complete," Kuroda said at the University of Oxford on Thursday.

The main reason for the delay in reaching the inflation target is subdued inflation expectations, he noted.

Nonetheless, he said quantitative and qualitative easing has produced its intended effects. Inflation expectations climbed notably after the introduction of QQE.

Japan is no longer experiencing deflation in the sense of a sustained decline in prices, Kuroda said.

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