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The Bank of Japan (BoJ) Governor Haruhiko Kuroda said at a post-meeting press conference on Friday that the 2% inflation target is expected to be achieved around the first half of fiscal 2016.
Kuroda also noted that capital spending and private consumption were improving, while exports increased.
The BoJ governor reiterated that there is no need to change the monetary policy. But he added that the central bank will adjust its monetary policy to achieve its 2% inflation target if needed.