Bloomberg: World’s Biggest Pension Fund Doubts BOJ Can Achieve 2% Inflation

Author: Eamonn Sheridan | Category: News

Takahiro Mitani, president of the 112 trillion yen ($1.14 trillion) Japanese Government Pension Investment Fund said the BOJ ‘probably promised too much’ when it set a goal of lifting inflation to 2 percent within two years.

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“It’s going to be very difficult,” Mitani said. “The BOJ think that if they say they will take bold measures to bring about inflation, then inflation expectations will rise and as a result prices will rise. But reality isn’t that smooth. Even in the bubble, inflation was only about 1 percent.”