The Bank of Japan … "is in no hurry to reach its 2% inflation target"

The Wall Street Journal take on the BOJ announcement and revisions to forecasts from earlier.

Post is here ICYMI:

• BOJ announcement - no change to policy but revisions to forecasts

And, this yet to come:

• Still to come from the Bank of Japan - Governor Kuroda speaks at 0630GMT

Anyway, the Journal, this got a jaw-drop from me (the bold part):

• The Bank of Japan stood pat on policy Wednesday despite downward revisions to its price outlook, suggesting the bank is in no hurry to reach its 2% inflation target.

I would strongly disagree but I guess the BOJ do accept the inevitability that it'll be along time coming. Perhaps the WSJ is being charitable.

One thing that continues to cause me to shake my head is the BOJ optimism that they are on track. They are so not on track. but perhaps being optimistic is part of their job.