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[OSAKA] Bank of Japan Governor Haruhiko Kuroda on Monday reiterated the central bank's readiness to expand monetary policy further if needed to achieve its 2 per cent inflation target.
A positive "feedback loop", in which increases in jobs and wages lead to higher inflation, must strengthen further for Japan to see inflation hit 2 per cent, Mr Kuroda said. "If risks materialise and lead to changes in trend inflation, the BOJ won't hesitate to adjust policy as needed to achieve its price target at the earliest possible time," he said in a speech to business leaders in Osaka, western Japan.
The BOJ has kept monetary policy steady since expanding its massive monetary stimulus programme in October last year to prevent slumping oil costs, and a subsequent slowdown in inflation, from delaying a sustained end to deflation.