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Japan inflation will pick up but more time needed to hit BOJ's 2 percent target - deputy governor

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Japan inflation will pick up but more time needed to hit BOJ's 2 percent target - deputy governor

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SEOUL (Reuters) – A tightening labour market will spur inflation in Japan, but a little more time will be needed to reach the Bank of Japan’s 2 percent price target, the BOJ’s deputy governor said on Friday. Speaking at a forum in Seoul, Hiroshi Nakaso said Japan’s economy is running well, and its labour market is “extremely tight”. The BOJ has repeatedly pushed back the timeframe for reaching its 2 percent inflation target, most recently to around fiscal 2019, as prices pressures remain stubbornly weak.

(Reporting by Dahee Kim and Cynthia Kim; Editing by Kim Coghill)
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