February 27, 2019 / 4:33 AM / 2 months ago

Kuroda says inflation to miss BOJ's target in fiscal 2020

Bank of Japan (BOJ) Governor Haruhiko Kuroda attends the Paris Europlace International Financial Forum in Tokyo, Japan, November 19, 2018. REUTERS/Toru Hanai

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Wednesday the chance of inflation hitting the central bank’s 2 percent target during the fiscal year ending in March 2021 was low.

Kuroda also told parliament that the BOJ’s purchases of exchange-traded funds (ETF) were a necessary step taken as part of the central bank’s massive stimulus program.

“We will continue to scrutinize the benefits and the potential costs of this measure,” he said of the BOJ’s ETF buying.

Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim

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