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The Bank of Japan (BoJ) Governor Haruhiko Kuroda said in a press conference on Tuesday that a decline in consumer prices is temporary as the consumer prices were driven by lower energy costs. He added that the consumer inflation could decline below zero.
Mr Kuroda expects that consumer prices will rise in the second half of the fiscal year that ends in March 2016. The central bank will adjust its monetary policy if needed, Mr Kuroda said.
The BoJ governor pointed out that even if consumer prices will be negative, it won't necessarily affect the inflation.