The BOJ was reported to have judged that the underlying rate of inflation had reached 2%. It continues to pursue policies including unprecedented monetary easing, asset purchases and negative interest rates, as the realisation of the price stability target is said to remain a long way off.
The BOJ is reported to have judged that the underlying rate of inflation had reached the 2% target. It took approximately 14 years to reach this point, dating from the joint statement put forward under former Prime Minister Abe Shinzō (安倍晋三) and former Governor Shirakawa Masaaki (白川方明).
The BOJ is said to have pursued an end to deflation over an extended period by successively introducing policies described as "unprecedented monetary easing," including large-scale asset purchases and a negative interest rate policy. At one point, these were described as the first such efforts in history.
The price target was set in January 2013 and was pursued in coordination with the economic policies of the second Abe administration, with the aim of escaping long-term deflation. Since the target was established, the BOJ's policies have involved substantial monetary easing.
The article is said to focus on the BOJ's formal recognition that the 2% target had been achieved, while outlining subsequent developments in monetary policy and the longer-term challenges of price stability.