BOJ's Kuroda: correction in yen strength could slow shift in production overseas

TOKYO Thu May 15, 2014 12:40am EDT

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TOKYO May 15 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Thursday that a correction in the strength of the yen could slow the pace at which Japanese companies are shifting manufacturing capacity overseas.

It is important for the central bank to continue its quantitative easing as long as needed to achieve its 2 percent inflation target, Kuroda said at a seminar, according to a text of his speech posted on the BOJ's website.

Kuroda also said he expects consumer prices to approach 2 percent sometime from fiscal 2014 to fiscal 2016. (Reporting by Stanley White and Leika Kihara; Editing by Chris Gallagher)

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