Bank of Japan to Assess Whether Inflation Has Reached 2% Target at Next Week's Meeting

The Bank of Japan will evaluate at next week's policy meeting whether underlying inflation has reached its 2% target, according to informed sources cited by Kyodo News. A determination that the target has been achieved would mark a symbolic turning point for the central bank, signaling a departure from the monetary policy stance it has long maintained to combat deflation. The Bank of Japan first set its 2% inflation target in January 2013. Despite implementing an aggressive monetary easing program, the central bank repeatedly postponed its expected timeline for achieving the goal. If the target is ultimately confirmed as reached, nearly 14 years will have elapsed since it was originally proposed.