BOJ’s Nakagawa says 2% price target is not BOJ’s only policy target – Bloomberg

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TOKYO: Achieving 2% inflation is not the Bank of Japan’s only monetary policy goal, as price movements could fluctuate around this level from time to time, its board member said Junko Nakagawa in an interview with Bloomberg.

As consumer inflation hovers around zero, the upward pressure is building in part due to the effect of rising food and oil prices, Nakagawa said.

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The BOJ will however maintain its ultra-accommodative monetary policy to reach its price target of 2%, she added, according to the interview conducted on Wednesday and published on Friday.

Nakagawa said the weakness of the yen has advantages and disadvantages for the Japanese economy, as it increases profits for exporters but increases import costs for companies operating domestically, according to Bloomberg.

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(Reporting by Leika Kihara; Editing by Sam Holmes)

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