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Japan’s Kishida Urges BOJ to Keep Working for 2% Inflation

  • Government unveils $49 billion package to ease price pain
  • Measures point to division of labor between government, BOJ
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Prime Minister Fumio Kishida urged the Bank of Japan to keep working toward its inflation goal after announcing a package of measures to relieve the pain of soaring energy and food prices amplified by a slide in the yen to a two-decade low.

“The BOJ has a policy of seeking 2% inflation, and the government hopes it will continue its efforts to achieve that,” Kishida told reporters after the government unveiled 6.2 trillion yen ($48.5 billion) in steps to ease the burden of higher prices on companies and consumers.