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BOJ chief says weaker yen is good for Japan

Published Fri, Oct 3, 2014 · 09:50 PM
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Tokyo

BANK of Japan (BOJ) governor Haruhiko Kuroda on Friday defended the central bank's aggressive monetary-easing tactic for its impact on the yen, arguing that the weaker currency is good for the economy on balance and also that the BOJ's 2 per cent annual inflation target is achievable in "around two years".

He was facing questions in parliament about the BOJ's controversial monetary-easing strategy, which has been criticised for forcing up import costs without triggering an attendant rise in exports and also for eroding real incomes.

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