Bank of Japan Deputy Gov. Kiyohiko Nishimura said Wednesday the economic recovery is beginning to stem deflation and the central bank should persist with its accommodative monetary policy.
"Some beams of light are starting to break through a thick cloud of deflation," Nishimura said in a speech in Sendai. "The effects of the pickup in the economy since spring 2009 can be considered to spread over to prices only from now on."
Nishimura's remarks echo comments made this month by BOJ Gov. Masaaki Shirakawa, and may add to speculation the central bank will raise its outlook for the economy and prices next week.
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