Former BOJ official says its difficult for BOJ to say there is momentum toward the 2% inflation

Ahead of the Bank of Japan meeting this week, comments from a former official

(Hiroshi Ugai, who is now managing director and chief economist of economic research department at JP Morgan)

• "Japan's economy will be boosted by economic stimulus measures toward summer next year but economic growth is expected to slow below the potential growth rate afterward"
• If, as expected, GDP is below the potential growth rate, it would see the positive output gap narrow, which in turn will make it difficult for the BOJ to assess the momentum toward achieving the price target is maintained

Ugai adds that momentum has already been lost.

Comes via an MNI report on the web, link here.