Bank of Japan Governor Haruhiko Kuroda said the country had escaped from deflation but still had more progress to make before reaching its goal for 2 percent inflation.
Bank of Japan Governor Haruhiko Kuroda said the country had escaped from deflation but still had more progress to make before reaching its goal for 2 percent inflation.
“While the policy approach has steered Japan’s economy in the right direction, our intellectual journey has not yet been completed, ” Kuroda said in speech at the University of Oxford on Thursday. “The rate of change in the consumer price index recently has been around 0 percent and there is still a long way to go until the price stability target of 2 percent is achieved.”
Japan’s economy grew at an annual rate of 1 percent in the first quarter, a government report showed Thursday.
