The adjusted figure came as yet another round of restrictions to contain the coronavirus threatens to prolong an economic slump.
For Toru Fujioka's latest contributions to The Japan Times, see below:
Until now, Kuroda has largely stuck to the view that the BOJ needs to consider climate change from the perspective of how it might present a risk to the financial system.
The disconnect as the nation bucks the global trend of rising inflation could split its policy stance away from the trajectory of other major economies.
"It’s hugely symbolic that even Kuroda can’t hit the target after a decade,” said a chief economist and former Bank of Japan official.
BOJ officials see a strong recovery in the United States and China as a driving force for Japan’s export-reliant economy.
Former board member Makoto Sakura's comments indicate the BOJ’s bar for lowering rates is as high as ever and that weak inflation alone won’t be enough to trigger such a move.
The slow rollout means struggling businesses and fearful shoppers will have to hold out for longer as the economy's recovery is delayed by as much as two years compared with global peers.
The bank also said it would offer lending incentives if it lowered its target rates.
The range around the 10-year yield target is a key focus for markets as the central bank looks to enhance the sustainability of its monetary stimulus.
But with the Nikkei stock index around three-decade highs, some lawmakers and economists are asking why it’s necessary to keep propping up the market.