Ex-BOJ chief likened inflation goal to constitution: 2012 minutes

Politics Economy

An inflation goal for a central bank carries the same weight as a constitution for a country, former Bank of Japan Governor Masaaki Shirakawa said at a policy meeting in 2012, underscoring the significance of adopting a target, an issue that was being debated at the time, minutes showed Friday. Leading up to the BOJ's meeting on Feb. 14, 2012, Japanese lawmakers also called for greater clarity regarding how the central bank would guide policy, after the U.S. Federal Reserve set an inflation target of 2 percent the previous month. The BOJ was facing pressure from the then Democratic Party of Ja...

Kyodo News

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