Abe admits the BOJ's 2% inflation target is tough to achieve

Tokyo

AS global financial markets deepened a sell off on Monday, Japan's prime minister acknowledged that the central bank's 2 per cent inflation target was getting more difficult to achieve.

Shinzo Abe expressed confidence in Bank of Japan (BOJ) governor Haruhiko Kuroda amid a plunge in oil prices that threatens to push the BOJ's key price measure below zero.

"We think it's unavoidable that it hasn't been able to achieve its original objective," …