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Financial News: BoJ Chief Says Re-Anchoring Long Term Inflation Expectatio

BoJ Chief Says Re-Anchoring Long Term Inflation Expectations Difficult

05/29/2019 - 00:42:00 (RTTNews)

(RTTNews) - Bank of Japan Governor Haruhiko Kuroda said Japan has difficulty in re-anchoring long-term inflation expectations from inflation below the target level and suggested examining how best to manage inflation expectations within the flexible inflation targeting framework.

Many advanced economies experience very sluggish price development despite significant improvement in economic activity, the banker said Wednesday. This, in turn, raised concerns about the credibility of inflation targets.

Kuroda said Japan's experience shows that it is difficult to re-anchor long-term inflation expectations from inflation below the target level. "That suggests the importance of maintaining well-anchored inflation expectations."

"If missing inflation comes from structural factors such as globalization and digitalization, central banks should continue examining how best to manage inflation expectations, while securing stability in economic and financial conditions, within the flexible inflation targeting framework," he said.

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