Low inflation coexisting with commodity price hikes: BOJ deputy chief

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Kyodo News

The Bank of Japan has not achieved its 2 percent inflation target yet, as low inflation is “coexisting” with temporary price gains in energy and food items in Japan, its deputy governor said Wednesday. The absence of widespread price gains, along with low mid- to longer-term inflation expectations amid tepid wage growth, bolsters the case for the BOJ to maintain its ultralow rate policy, Deputy Governor Masazumi Wakatabe told business leaders in Okayama Prefecture, western Japan. In shifting to tighter monetary policy, the BOJ looks set to lag far behind its global peers, including the U.S. Fe…

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