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Bank of Japan minutes show easing cycle may extend more than 2 years

Published 02/20/2014, 09:20 PM
Updated 02/20/2014, 09:28 PM

Investing.com - Several Bank of Japan's nine board members said aggressive monetary easing does not have to end strictly in two years from April 2013, according to the minutes of the Jan. 21-22 policy meeting released Friday.

The BOJ has vowed to boost inflation to stable 2% in "about two years" from last April through massive cash injections into financial markets and large-scale purchase of mainly Japanese government bonds.

"As for the time frame for continuing quantitative and qualitative monetary easing, many members expressed the recognition that it was necessary for the BOJ to provide a clear explanation that it did not strictly set this to end in two years," the minutes said.

"At the same time, some members emphasized that the bank should make sure that such an explanation would not weaken the commitment to 'achieving the price stability target of 2% at the earliest possible time, with a time horizon of about two years.'"

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