The International Monetary Fund proposed the BOJ alter their inflation target, suggesting an inflation range target, rather then the current 2% (point) target.

One BOJ board member said:

  • … the introduction of an inflation range target, such as that proposed by the IMF, could weaken (the BOJ's) commitment to achieving the price target,

In making the suggestion the IMF is trying to lessen the risk of financial strain on Japan's banks and financial institutions.