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TOKYO — Bank of Japan Gov. Kazuo Ueda said Tuesday the central bank would start unwinding its monetary easing once the nation sees sustainable and stable 2% inflation.
“If the bank reaches a view that 2% inflation can be achieved in a sustainable and stable manner, the bank will end [its yield curve control policy] and start shrinking its balance sheet,” Ueda said to a parliamentary committee.
Overall consumer prices rose 3.2% from a year earlier in March. But the BOJ expects inflation to drop below 2% later this year due to falls in import costs.
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