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Kuroda Says Japan Still a ‘Long Way’ From Meeting Inflation Goal

  • Japan no longer experiencing deflation, Kuroda says in speech
  • Bank of Japan board holds next policy meeting June 15-16
Haruhiko Kuroda, governor of the Bank of Japan.

Haruhiko Kuroda, governor of the Bank of Japan.

Photographer: Kiyoshi Ota/Bloomberg
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Bank of Japan Governor Haruhiko Kuroda said the country had escaped from deflation but still had more progress to make before reaching its goal for 2 percent inflation.

“While the policy approach has steered Japan’s economy in the right direction, our intellectual journey has not yet been completed,” Kuroda said in speech at the University of Oxford on Thursday. “The rate of change in the consumer price index recently has been around 0 percent and there is still a long way to go until the price stability target of 2 percent is achieved.”