Ayear after taking the helm of the Bank of Japan, Haruhiko Kuroda appears to be on course to achieve the targets he set in the quest to end Japan¡¯s protracted deflation and put the economy on a growth path.
Consumer prices ¡ª which were still falling when he became BOJ governor in March last year ¡ª marked a 1.3 percent year-on-year rise in January, and Kuroda says he is confident the prices are on track toward his goal of 2 percent inflation within two years, excluding the effects of the consumption tax hike in April.
Market sentiments changed a year ago when the new BOJ governor, picked by Prime Minister Shinzo Abe, introduced aggressive monetary easing measures, pledging to double the nation¡¯s monetary base ¡ª the amount of money the central bank supplies in its money market operations ¡ª in two years, mainly through the massive purchases of government bonds.
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