The Bank of Japan's (BoJ) recent switch to a 2% inflation target is not consistent with sustainable price stability and could undermine the central bank's credibility, according to Takehiro Sato, a member of the BoJ's policy board.
Speaking today at a meeting of business leaders in Gunma prefecture, Sato explained why he and one other board member, Takahide Kiuchi, dissented in the vote on January 22, saying: "A 2% CPI inflation rate far exceeds the pace of price growth that is considered to be
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