A historic accord that ties the Bank of Japan to a 2% inflation goal is approaching its 10th anniversary amid speculation it may be revised to support a change of direction at the central bank under a new governor.
The decade milestone comes on Sunday just a couple of days after Friday’s release of figures showing prices rising at twice the pace targeted in the 2013 joint statement with the government.
Yet current Gov. Haruhiko Kuroda made it clear on Wednesday that he remains fully committed to pouring stimulus into the financial system to support the economy and secure sustainable price growth. That’s a stance that puts the BOJ out of sync with all its global peers as they continue efforts to tamp down inflation with tighter policy.