In an interview over the weekend on CNBC governor Haruhiko Kuroda said, ‘in order to reach 2 per cent inflation target, I think the Bank of Japan must continue very strong accommodative monetary policy for some time’, this ahead of a rate setting meeting on Thursday and Friday this week. Readers should keep in mind that Tokyo CPI, excluding fresh food (the country’s preferred measure) has rarely printed over the 2 per cent (current) target since the Nikkei 225 peaked in 1990.
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