Kuroda says oil shock has not thrown recovery off track
'Deflationary mind-set' still fading, BoJ governor insists
As with most major economies, the oil price shock last year has caused inflation to drop below target in Japan, but the central bank's strategy is still working, Bank of Japan (BoJ) governor Haruhiko Kuroda insisted today.
Inflation reached 1.5% in April 2014, Kuroda said, but the gradual climb towards the 2% target was cut short by the oil price collapse later in the year. Inflation was just 0.2% in January, he told Japan's National Press Club during a speech in Tokyo.
Nevertheless, "conversion
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