The Bank of Japan (BOJ) announced that its underlying inflation target of 2 % has been achieved, marking the first time the central bank has reached this benchmark since it set the goal in 2013.
In a statement released on Tuesday, the BOJ confirmed that the underlying inflation rate—excluding volatile food and energy prices—has now met the 2 % target that has guided its monetary policy for the past decade.
According to the bank, this milestone is the first instance since 2013 that underlying inflation has aligned with the 2 % goal, a target that has been central to the BOJ’s efforts to revive Japan’s economy.
The BOJ also reiterated that it will keep its policy rates unchanged, continuing its long‑term strategy of maintaining low borrowing costs to support growth.
While the announcement signals progress toward the bank’s inflation objective, it comes after years of persistent deflationary pressure in Japan’s economy.
<small>Source: CNBC — read the original story there.</small>