Bank of Japan Confirms 2% Inflation Target After 13 Years
The monetary authority hits a historic price goal.
Macroeconomics Editor: Fabricio Marcilio 1 min read
The Bank of Japan declared this Friday that inflation has reached its 2% target. This goal was established more than a decade ago to pull the country's economy out of a deflationary cycle.
The Japanese government struggled for decades to reverse the constant decline in prices. The 2% target was set in 2013 as part of massive monetary stimulus measures.
Although the consumer price index surpassed this level intermittently in the early 2020s, this is the first time the central bank has confirmed the fulfillment of the long-term trend. The institution assesses that core inflation is at a consistent level.
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