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4/17/2017, 9:48 AM (Source: TeleTrader)
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BoJ's Kuroda: Growth in inflation is slowing

Monetary easing in Japan must be maintained as monetary policy targets are still beyond reach, Governor Haruhiko Kuroda said in Tokyo on Monday. The target 2% inflation is still a long way to go, said the chief of the Bank of Japan. Furthermore, rate-setters will need to focus more on consumer prices as their trend of growth has subsided, he stressed.

On the other hand, he praised the overall macroeconomic performance with an accent on a rebound in individual spending. The central bank's policy panel is convening next week. Kuroda also said the pace of economic recovery has remained moderate and underscored employment and that employers are lifting workers' earnings.

Earlier today, Yoshihide Suga, chief cabinet secretary in the government of prime minister Shinzo Abe, denied it is manipulating with its currency in the market. Japan is one of the countries that remained on the watchlist of the United States Department of the Treasury.

Breaking the News / IT