IMF Official Says Hard to Predict When BOJ Will Meet Target
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The International Monetary Fund said it’s become harder to estimate when the Bank of Japan will achieve its inflation target, suggesting the global fund is backtracking from its prediction of around 2017 or 2018.
“It’s just too uncertain for us to say x or y time,” Kalpana Kochhar, the IMF’s mission chief for Japan, said in an interview Friday in Washington. There are many uncertainties, including oil prices, wage growth and Japanese companies’ potential use of cash holdings, making it hard to make a prediction, she said.