The prospects of meeting the Bank of Japan's inflation target of 1 percent in next fiscal year is highly uncertain, Takahide Kiuchi, one of the two new members appointed to the central bank's policy board, reportedly said Tuesday.
Kiuchi said more policy easing is needed to beat deflation. Takehiro Sato, another board member, said it is ideal to raise inflation expectations.
The members' appointments were formally approved by the government earlier in the day. They replaced Seiji Nakamura and Hidetoshi Kamezaki, whose terms expired in April.
Kiuchi has served as a chief economist at Nomura Securities, while Sato was working as chief economist at Morgan Stanley MUFG Securities.
by RTT Staff Writer
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