REFILE-Bank of Japan's Shirai says inflation target must be more convincing

Fri Feb 28, 2014 3:19pm EST

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NEW YORK Feb 28 (Reuters) - The Bank of Japan must try harder to convince the public it can spur faster price increases, a Japanese central banker said in a speech that acknowledged it could be some time before the institution achieves its inflation goal.

"The Bank needs to increase its dialogue with the public to promote understanding of the importance of the 2 percent target," Sayuri Shirai, a member of the Bank of Japan's policy board, said at a monetary policy conference on Friday.

She said it could take some time to get inflation to 2 percent. "It is possible that it may take even longer to achieve a situation where the 2 percent target is maintained in a stable manner," she said.