Raise inflation target to avoid slump – IMF report
The Bank of Japan's interest rate policy during the "Lost Decade" was not solely responsible for the economy's poor performance, but a low inflation target did not help, new research from the International Monetary Fund posits.
The analysis shows that Japan's disappointing economic performance was mainly due to a series of adverse economic shocks rather than an extraordinary policy error. However, the research also shows that aiming for a low level of inflation and responding with a conventional
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