BoJ’s Miyao says deflation 'overriding issue' in Japanese economy


Bank of Japan policy board member Ryuzo Miyao, in a speech released today (April 13), said deflation is the "overriding issue" facing the Japanese economy.

Speaking to an audience of business leaders in Chiba province, Miyao said that if the Bank of Japan pursued its monetary policy solely on the basis of trying to achieve its 1% inflation target "at any cost", monetary policy would be too rigid. He added that this would "not be desirable for the development of the national economy".


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