ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Bank of Japan

Ex-BOJ chief was skeptical about 2% inflation target in 2012

Masaaki Shirakawa's concerns can be seen in newly disclosed minutes

Masaaki Shirakawa, then the governor of the Bank of Japan, speaks at a regular news conference at the bank's headquarters in Tokyo in August 2011. (Photo obtained by Nikkei)

TOKYO (Kyodo) -- Former Bank of Japan Governor Masaaki Shirakawa expressed concern at a policy meeting in 2012 about the central bank's possible adoption of a 2% inflation target, shortly before the goal was enshrined in a joint statement with the government, minutes showed Tuesday.

"Is it really achievable in a decent amount of time?" Shirakawa was quoted as saying at the BOJ's policy meeting in December 2012. The inflation target was subsequently adopted in a joint statement with the government led by then premier Shinzo Abe, known for his "Abenomics" economy-boosting program.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more