The Bank of Japan's newest board member Yukitoshi Funo said the central bank must achieve its price target, indicating his support for Gov. Haruhiko Kuroda.
"The 2 percent inflation target must be met" Funo, a former executive of Toyota Motor Corp., said in his inaugural news conference Wednesday in Tokyo. "Price stability and higher productivity is needed for Japan's sustainable growth."
Funo succeeded a Policy Board member who opposed Kuroda's decision to increase unprecedented monetary easing in October in a split 5-4 vote, the BOJ's closest since 2008.
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