Wednesday, March 27, 2013 10:59 pm
BOJ chief says Japan economy on the mend
The Associated Press
Haruhiko Kuroda, who spoke to lawmakers Thursday on the Bank of Japan's semiannual report, said there was still "a high degree of uncertainty" about the economy given the crisis in Europe, the tenuous state of the U.S. recovery and relations with China.
Kuroda said prices are unlikely to rise for the next few months but that afterward Japan would see some progress toward its inflation target as the economy moved toward a "moderate recovery path."
The central bank and government have set a 2 percent inflation target, aiming to end years of growth-inhibiting deflation.
Kuroda has vowed to achieve that goal within two years.