TOKYO: Bank of Japan board member Sayuri Shirai said the central bank's goal of achieving 2 percent inflation and sustaining the price level in a "stable manner" is equivalent to stabilising Japan's long-term inflation expectations at 2 percent.
"Transforming the public's deflation-oriented mindsets and their resultant risk-averse economic behavior will take some time, but positive developments are gradually but steadily spreading in the economy," Shirai said in a speech delivered at a conference in Singapore on Wednesday.
"Going forward, monetary policy should continue to support the transformation process and economic recovery," she said, according to the text of the speech posted on the BoJ's website on Thursday.
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