April 11, 2017 / 1:37 AM / 7 months ago

BOJ Kuroda says aiming for inflation backed by wage growth

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank is aiming for a moderate acceleration of inflation driven by increases in wages and corporate earnings.

FILE PHOTO: Bank of Japan (BOJ) Governor Haruhiko Kuroda speaks during a Reuters Newsmaker event in Tokyo, Japan March 24, 2017. REUTERS/Toru Hanai

“We won’t be satisfied just because consumer inflation hits our 2 percent target. What’s important is for a positive economic cycle ... to drive up inflation moderately to 2 percent,” Kuroda told parliament.

He said wages have not increased as much as hoped for despite a tightening job market.

Reporting by Stanley White and Leika Kihara; Editing by Chris Gallagher

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