BOJ cuts inflation forecast, delays price goal yet again

Tokyo

THE Bank of Japan (BOJ) has again pushed back its target for achieving its 2 per cent annual inflation target to sometime in fiscal 2019 or four years behind the original target as it battles to alter a deflationary mindset in a society that is rapidly ageing and where the population is shrinking.

BOJ governor Haruhiko Kuroda remained stubbornly optimistic and unapologetic after the central bank's Policy Board announced on Thursday the sixth delay in achieving the highly elusive price goal.