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The Bank of Japan will continue quantitative and qualitative easing until inflation stabilizes at 2 percent, Deputy Governor Kikuo Iwata said Wednesday.
He reiterated that the BoJ will achieve its 2 percent inflation target at the earliest possible time, with a time horizon of about 2 years.
In a speech to the Kyoto Chamber of Commerce and Industry, Iwata said easing is still in its early stages and it will take time to see the impact of monetary easing on the real economy.
He said the economy will improve, prices and wages will rise together with an increase in household income and capital expenditure. He urged households to be patient.
