Economics
OECD Suggests Japan Consider a Range for Its Inflation Target
- The Paris-based group lowers growth, CPI forecasts for Japan
- It says sales-tax hike should go ahead as planned in 2019
Bank of Japan Governor Haruhiko Kuroda
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
It may be time for the Bank of Japan to consider some changes to its monetary policy framework, including its elusive price goal, according to the OECD’s latest economic outlook.
Given that price gains have stayed persistently below the central bank’s desired 2 percent level, one option could be to switch to a range with the lower bound below this, the Paris-based Organisation for Economic Co-operation and Development said Wednesday.