BOJ governor confident of reaching inflation target

|By:, SA News Editor

The Bank of Japan expects its 2% inflation target "to be reached sometime in late fiscal year 2014 or early fiscal year 2015," Governor Haruhiko Kuroda says.

However, he acknowledges that the goal remained "very ambitious" given Japan's 15 years of deflation.

Unlike the ECB, Kuroda downplays the possibility of using negative interest rates, as the effect on the economy is unclear.

The Nikkei 225 closes +1.5%, while the USD-JPY is +0.5% to ¥101.77.

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