New BOJ Member Says Hard to Reach Price Goal in Two Years
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New Bank of Japan board member Yutaka Harada said it would be hard to reach the central bank’s goal of 2 percent inflation in its two-year timeframe.
“It’s pretty hard to think of both the objective’s number and timeframe as a rigid goal, or it may be impossible,” Harada said Thursday at his inaugural press conference in Tokyo. “It wouldn’t be such a big problem for the Japanese economy if 2 percent couldn’t be met in two years due to positive factors such as falling oil prices.”