BOJ's Kuroda: High chance BOJ to meet its inflation target

TOKYO Thu Mar 20, 2014 3:32am EDT

Bank of Japan Governor Haruhiko Kuroda speaks during a news conference at the BOJ headquarters in Tokyo February 18, 2014. REUTERS/Yuya Shino

Bank of Japan Governor Haruhiko Kuroda speaks during a news conference at the BOJ headquarters in Tokyo February 18, 2014.

Credit: Reuters/Yuya Shino

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Thursday there is a high chance that consumer prices will reach the central bank's 2 percent inflation target sometime from the end of fiscal 2014 to the beginning of fiscal 2015.

Upward pressure on consumer prices will increase due to improvements in the supply-demand balance, but the positive impact from energy prices will start to fade, Kuroda said in a speech.

The BOJ last week maintained its pledge of increasing base money, its key monetary policy gauge, at an annual pace of 60-70 trillion yen ($590-$690 billion).

The BOJ launched the stimulus April last year, saying it would lift inflation to 2 percent within around two years via aggressive asset purchases as it sought to end 15 years of deflation.

(Reporting by Stanley White; Editing by Dominic Lau)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.