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William Pesek

Bank of Japan Parts Ways With Reality

Five signs the BOJ chief doesn't get the economy.
Willful blindness.

Willful blindness.

Photographer: Kiyoshi Ota/Getty Images
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Haruhiko Kuroda has faced many challenges in his campaign to end Japan's deflation: traumatized households, cautious bankers, stingy CEOs and tepid global growth. But on Thursday, the Bank of Japan governor added a new item to the list: denial.

After announcing that the BOJ was leaving rates unchanged, Kuroda held a press conference that was a study in cognitive dissonance. Although his 2 percent inflation target looks less and less achievable, he continues to exude economic confidence. Here are five Bloomberg headlines suggesting Kuroda is beginning to part ways with Japan's economic reality.