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The Bank of Japan may need more time to achieve its 2 percent inflation target and the country can’t ignore harm caused by an abrupt weakening of the yen, said Toshiro Muto, a two-time contender to lead the central bank.

“The hurdle is pretty high to meet the price goal within their targeted time period of about two years,” said Muto, 71, a former deputy governor who is now chairman of the Daiwa Institute of Research. “It’s a realistic approach to push back the timing.”

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