ICYMI, a Reuters report with further detail on the news from yesterday:
Under strong political pressure to beat deflation, the BOJ signed a policy accord with the government in 2013 and committed to achieving 2% inflation “at the earliest date possible.”
The Reuters report is here:
- panel of academics and business executives on Monday urged the Bank of Japan to make its 2% inflation target a long-term goal
- “The way the BOJ conducts monetary policy must be revamped,” Yuri Okina, a panel member who is considered as among candidates to become the next BOJ deputy governor, told a news conference.
- “By making 2% inflation a long-term goal, the BOJ can make its monetary policy more flexible,” she said.
Bank of Japan Governor Kuroda will be leaving the Bank in Aporil, policy change is thought to be afoot from then.