Society

BOJ pushes back inflation target date

Jul 20 (NHK) - Policymakers at the Bank of Japan have decided to continue with their easing program in a bid to achieve a 2-percent inflation target. But the officials have revised the forecast date for meeting the target. They say an extra year is needed.

The policymakers released their latest quarterly outlook on the economy. They now say the 2-percent target will likely be reached "around fiscal 2019."

The previous forecast was "around fiscal 2018."

Meanwhile, the policymakers concluded their 2-day meeting with a pledge to stay focused on short- and long-term interest rates.

They say there will be no change to their negative rate policy for commercial banks. Lenders effectively have to pay 0.1 percent interest on a portion of the deposits they have at the BOJ.

Source: ANNnewsCH

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