BOJ still behind 2% inflation target as wages lag
Despite the end of deflation, and record govt stimulus and bank lending, price gains have yet to reach target
Tokyo
FOUR years after the Bank of Japan set a 2 per cent inflation target, price gains may still be coming up short, according to a survey of economists by Bloomberg News.
Consumer prices will rise an average 1.4 per cent the fiscal year through March 2017, after failing to reach 2 per cent - stripped of fresh food and a sales-tax boost - in any of the years since the goal was set, the median of 16 estimates shows. Governor Haruhiko Kuroda wanted to get there in about two years when he unleashed his record stimulus plan in April 2013.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month