BOJ moving closer to its 2% inflation target

Tokyo

THE Bank of Japan is edging closer towards achieving its target of 2 per cent annual inflation in consumer prices as 2013 draws to a close, official data published yesterday showed, and the monetary expansion being employed to this end is likely to result in further falls in the value of the yen.

At the same time, pressure on the Japanese central bank to bend its monetary policy towards meeting government-set targets for economic growth appears likely to intensify.