Governor Haruhiko Kuroda believes the Bank of Japan's (BoJ) quantitative and qualitative easing (QQE) programme "has been steadily exerting its intended effects" since it was introduced one year ago – but another policy board member is concerned that 2% inflation is out of the central bank's reach.
The BoJ introduced QQE in April 2013 as it sought to increase annual inflation to 2% at "the earliest possible time, with a time horizon of about two years". As the midpoint of this horizon approaches
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