April 26, 2013 / 6:21 AM / 5 years ago

Japan inflation to hit 2 pct in latter half of next 3 years -BOJ

TOKYO, April 26 (Reuters) - Japanese inflation is likely to rise to around 2 percent during the latter half of the coming three-year period covered in the Bank of Japan’s latest semi-annual economic and price outlook, the central bank said on Friday.

“Quantitative and qualitative monetary easing is expected not only to work through such transmission channels as long-term interest rates and asset prices, but also to lower real interest rates through a pickup in inflation expectations,” the BOJ said in its report.

The BOJ also repeated its mantra that it will continue its monetary easing as long as needed to achieve 2 percent inflation in a stable manner.

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