Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
At his inaugural press conference on April 10, new Bank of Japan governor, Kazuo Ueda, stressed that achieving price stability – defined, but not reached, as 2% since January 2013 – is the most important consideration for any shift in monetary policy. His comments echoed those he made at his Diet (Japanese parliament) confirmation hearing two months ago.
Price stability has remained the BoJ’s long-standing, unaccomplished mission for a quarter of a century (since the 1998 enforcement of the
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