Society | Jul 28

BOJ's 2% Inflation Target Has Resulted in Japan's Economy No Longer in Deflation, Kuroda Says

Jul 28 (usnews.com) - TOKYO (Reuters) - The Bank of Japan's 2% inflation target has pulled Japan's economy out of deflation, Governor Haruhiko Kuroda said on Tuesday, adding that this was not a mistaken policy.

"As a result of the Bank of Japan's policy of seeking to achieve its 2% price target, we are no longer in a deflationary situation," Kuroda said, answering questions after a speech on climate change policy.

Despite having failed to meet its 2% inflation target for nearly a decade, Kuroda said the central bank's policy has been in a right course.

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