Takahiro Mitani, president of the 112 trillion yen ($1.14 trillion) Japanese Government Pension Investment Fund said the BOJ ‘probably promised too much’ when it set a goal of lifting inflation to 2 percent within two years.
- Interviewed on Sunday
“It’s going to be very difficult,” Mitani said. “The BOJ think that if they say they will take bold measures to bring about inflation, then inflation expectations will rise and as a result prices will rise. But reality isn’t that smooth. Even in the bubble, inflation was only about 1 percent.”