The Bank of Japan should drop its 2 percent inflation target and should not further expand its program of massive monetary easing, Internal Affairs Minister Seiko Noda, a long-shot to succeed Prime Minister Shinzo Abe, said in an interview.
The “desperate” introduction of all sorts of policies to reach a specific inflation level was “back to front,” Noda said Wednesday. “It will go to 2 percent by itself if the economy improves,” she added, saying failure to reach the goal was due to lack of growth in consumption and wages.
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