BoJ formally asked to double inflation target

masaaki-shirakawa
Masaaki Shirakawa, Governor of the Bank of Japan

The Japanese government has increased its pressure on the Bank of Japan (BoJ) to ease monetary policy, issuing a formal request for the inflation target to be doubled to 2%.

At a meeting of the Council on Economic and Fiscal Policy on January 9, prime minister Shinzo Abe asked BoJ governor Masaaki Shirakawa to raise the inflation target, which is set at 1% "for the time being".

Abe raised the issue of the 2% target earlier this month, saying at a press conference on January 4 the BoJ must

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