© Reuters. FILE PHOTO: A man walks past Bank of Japan’s headquarters in Tokyo, Japan, June 17, 2022. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO (Reuters) – A panel of academics and business executives on Monday urged the Bank of Japan to make its 2% inflation target a long-term goal, instead of one that must be met as soon as possible, in light of the rising cost of prolonged monetary easing.
In the proposal, the panel also called for the need to have interest rates rise more in line with economic fundamentals, and normalise Japan’s bond market function.
The panel includes members such as Yuri Okina, who is considered as among candidates to become next BOJ deputy governor.
