Report says BOJ considering 'reference rate'

The Bank of Japan is considering setting a 'reference rate' on inflation to guide markets on its monetary policy intentions, Jiji Press and other media reported.

The central bank has been wary of introducing a formal inflation target but is mulling a softer goal to improve transparency after it returns to a conventional interest rate policy, the reports said.

The reference rate would be the rate of consumer price inflation deemed desirable to help achieve sustainable economic growth, Jiji

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