September 8, 2017 / 5:23 AM / in 7 months

Japan inflation will pick up but more time needed to hit BOJ's 2 percent target - deputy governor

SEOUL (Reuters) - A tightening labour market will spur inflation in Japan, but a little more time will be needed to reach the Bank of Japan’s 2 percent price target, the BOJ’s deputy governor said on Friday.

File photo: Bank of Japan Deputy Governor Hiroshi Nakaso speaks during an interview with Reuters at the BOJ headquarters in Tokyo April 9, 2015. REUTERS/Yuya Shino

Speaking at a forum in Seoul, Hiroshi Nakaso said Japan’s economy is running well, and its labour market is “extremely tight”.

The BOJ has repeatedly pushed back the timeframe for reaching its 2 percent inflation target, most recently to around fiscal 2019, as prices pressures remain stubbornly weak.

Reporting by Dahee Kim and Cynthia Kim; Editing by Kim Coghill

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