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BOJ's Kuroda: To guide policy with focus on hitting price goal

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Bank of Japan Governor Haruhiko Kuroda said on Friday he intended to guide monetary policy with utmost focus on achieving the central bank's 2 per cent inflation target.

[TOKYO] Bank of Japan Governor Haruhiko Kuroda said on Friday he intended to guide monetary policy with utmost focus on achieving the central bank's 2 per cent inflation target.

"It has become clear that changing public perceptions on price moves will take time," Mr Kuroda told parliament, stressing the need to maintain the BOJ's massive stimulus programme.

"We'd like to guide policy with utmost focus on meeting our price target, mindful of recent debate on the impact of our policy on the BOJ's finances and an exit strategy" from ultra-easy policy, he said.

Mr Kuroda, who was nominated by the government to serve another five-year term after the current one ends in April, made the comments during a confirmation hearing at the lower house of parliament.

The nomination needs approval by both chambers of parliament, which is a near certainty as Prime Minister Shinzo Abe's governing coalition holds a comfortable majority.

REUTERS

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