At its press conference at the end of October, the Bank of Japan said that the underlying inflation rate was broadly consistent with 2%, but refrained from declaring that the 2% level had been achieved. In an overseas statement, it was reported to have referred to having "reached 2%" during an IMF discussion in November.
At its press conference at the end of October, the Bank of Japan said that underlying inflation was at a level "broadly consistent" with its 2% price stability target. It did not, however, declare that the 2% target had been achieved, leaving the matter positioned as a milestone.
In an overseas statement, the Bank was reported to have conveyed the idea that "we reached 2% for the first time in several decades" during a discussion with the IMF Managing Director in Washington on 6 November. Although interpretations of the discussion differ among media outlets, some aspects may be consistent with the Bank's view.
Much of this article is available only to members, and follow-up reports continue to appear as fragmentary information that differs by media outlet. Official announcements on the Bank's future inflation outlook and its treatment of the press conference remain awaited.