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Bank of Japan fights a war of attrition to reach inflation goal

After two years of taking aim at the yield curve, consumer prices barely budge

A man rides a bicycle past the Bank of Japan building in Tokyo.   © Reuters

TOKYO -- In the two years since the Bank of Japan rolled out a policy of targeting the yield curve, the central bank has found success in guiding long-term rates to around zero, but that achievement is not expected to translate into reaching its 2% inflation goal anytime soon.

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