- 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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BOJ governor confident of reaching inflation target
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