• Kyodo

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Monetary tightening is not a “suitable” measure at all for the Bank of Japan as the domestic economy is still in the midst of a recovery from the COVID-19 pandemic while higher commodity prices are adding downward pressure, Gov. Haruhiko Kuroda said Monday.

Even though core consumer inflation jumped 2.1% in April from a year earlier, it does not mean the BOJ’s 2% inflation target has been achieved, Kuroda said, stressing that the central bank will not waver in its aggressive monetary easing to support the economy and ensure more robust wage growth.

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