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Bank of Japan's Kuroda maintains positive view on economy

Published on Apr 16, 2014 10:11 AM
 
Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed its upbeat view of the economy, even as global financial markets wobble, stressing that growth will pick up around mid-year as the sting of a sales tax hike fades. -- FILE PHOTO: REUTERS

TOKYO (Reuters) - Bank of Japan (BOJ) Governor Haruhiko Kuroda on Wednesday affirmed its upbeat view of the economy, even as global financial markets wobble, stressing that growth will pick up around mid-year as the sting of a sales tax hike fades.

Price rises will broaden as the economy continues gradually to improve, Kuroda added, reiterating his view that Japan is making headway towards the central bank's price goal of 2 per cent inflation in about a year's time.

"It's true (the tankan survey published earlier this month) showed a wide range of companies, especially among automakers and retailers, holding a more cautious view about the economic outlook," Kuroda told a parliamentary session.

"But the level (of confidence) remains high and corporate capital spending plans for fiscal 2014/15 is solid. Companies' positive stance is maintained," he said.

 
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