Victory in Japan's battle with too-low inflation looks as elusive as ever. On Thursday, the Bank of Japan pushed back its estimate of when it will hit its 2 percent inflation target; the goal now won't be reached until the year beginning April 2019, according to Gov. Haruhiko Kuroda.
The delay would seem to confirm that Japan remains subject to a unique "deflationary mindset" that's nearly impossible to eradicate.
In fact, what's interesting isn't how singular Japan's problems are, but how common. While they may vary in degree, they're increasingly shared by policymakers across the developed world.