The BOJ officially announced that the 2% inflation target had been reached, marking an achievement more than 14 years in the making. The BOJ is expected to shift toward a policy of keeping inflation stable at around 2%.
In an announcement following its meeting, the BOJ stated explicitly that it had brought the inflation target to 2%. This indicated that the price stability target, pursued over many years, had been achieved.
The achievement is said to have come after approximately 14 years of efforts to overcome deflation, dating back to the latter half of the 2000s.
The BOJ indicated a policy shift toward keeping inflation stable at around 2%, and the development is being viewed as a turning point for monetary policy.
The market and private-sector response, as well as the official next steps and the specific extent of policy changes, are expected to attract attention.