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    BOJ’s Kiuchi - de-merits of QQE steadily increasing Omkar Godbole

    Bank of Japan (BOJ) board member Kiuchi was on the wires stating that the de merits of the central bank’s QQE program are steadily increasing.Key quotesDon't think japan can hit 2% inflation by fy2018Achieving 2 pct inflation takes time, need structural changes in economy with efforts from govt, private sectorJapan's output gap likely to remain more or less at neutral level, making it hard to expect marked rise in underlying trend inflationOverseas demand, fincl mkts biggest downside risksNegative rate policy having bad effect on financial market stabilityPrivate consumption lacking momentum partly due to disappointingly slow wage growthJapan firms may not change significantly their cautious stance on capexFirms cautious about wage hikes; productivity low

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