An interesting take on the confirmation hearings yesterday for the deputy-governor positions at the BOJ from Jiji:
BOJ Deputy Gov. Nominees Divided over Inflation Deadline
Iwata says: “The BOJ can and should reach the target in two years at the latest,”
BUT…
Meanwhile, the other deputy governor nominee Hiroshi Nakaso, BOJ executive director, noted that it is difficult to guarantee that 2 pct inflation will be achieved in two years
I think Nakosa is probably right. Iwata says the appropriate thing to do if the BOJ doesn’t meet the target is to resign. He might have to do that
