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BOJ's Shirai says monetary stimulus to continue beyond 2015

Published on May 29, 2014 10:57 AM
 
A man walks past shirts on sale outside a store in Tokyo, in this April 7, 2014 file picture. Bank of Japan board member Sayuri Shirai said on Thursday it will take more than two years to achieve the central bank's 2 per cent inflation target, stressing that its ultra-loose monetary stimulus will continue beyond 2015. -- PHOTO: REUTERS

NAHA, Japan (Reuters) - Bank of Japan board member Sayuri Shirai said on Thursday it will take more than two years to achieve the central bank's 2 per cent inflation target, stressing that its ultra-loose monetary stimulus will continue beyond 2015.

"Under the BOJ's so-called flexible inflation targeting framework, I maintain the view that it will likely take longer than 'two years' to achieve 2 per cent inflation in a way that doesn't impose excessive burdens on firms and households," Shirai said in a speech to business leaders in Naha, on the southernmost Japanese prefecture of Okinawa.

The BOJ has kept monetary policy steady since deploying an intense burst of stimulus in April last year, when it pledged to double base money via aggressive asset purchases to accelerate consumer inflation to 2 per cent in roughly two years.

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