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Markets could be caught off guard if BOJ hits inflation target: Kuroda

Mr Kuroda said that the BOJ expects inflation in Japan to "gradually accelerate" later this year as the impact of lower oil prices becomes less of a factor in the data.

Wayzata, Minneapolis

BANK of Japan (BOJ) governor Haruhiko Kuroda said that financial markets "could be surprised" if the central bank hits its 2 per cent inflation target in 2016 and interest rates in Japan start to rise as a result.

Mr Kuroda, who was speaking on Sunday to a