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Opinion

Japan's reflation drive -- no time to quit

Mistake to suggest central bank should abandon easing. BOJ must soldier on

| Japan
The BOJ's reflationary drive has not succeeded at raising current inflation and inflationary expectations. (Photo by Konosuke Urata) 

"The Bank of Japan can abandon its 2% inflation target or suspend efforts to achieve it once the job market is tight enough because the public is better off having prices fall, not rise... The inflation target is only useful as a tool for achieving full employment."

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