BOJ deputy suggests 1% inflation benchmark

Bank of Japan deputy governor Kazumasa Iwata said the consumer price index needs to show a year-on-year rise of 1 pct over a period of 1-1/2 to two years to ensure that deflation is defeated, the Nikkei News Service reported.

The nation's core CPI, which only excludes fresh foods, was flat on year in October, and Iwata projected that core index "will likely gradually turn into positive territory and expand its gains in November and December and early next year," according to a speech to the Ec

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