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Bank of Japan Sees Inflation Nearing Target in 2015: Economy

The Bank of Japan maintained its unprecedented plan to boost money supply at a policy meeting today, and predicted inflation will almost match its target in two years even after a report highlighted deflation’s grip.

Consumer prices, excluding the impact of a sales-tax increase and volatile fresh food costs, will rise 1.9 percent in the fiscal year starting in April 2015, according to the median estimate of BOJ board members published in Tokyo today. A separate release showed that the gauge tumbled by 0.5 percent in March, the most in two years.