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Japan Inflation At New Low Since War On Falling Prices Began - Yahoo News

The slip makes the Bank of Japan's much-touted 2.0 percent inflation goal -- a cornerstone of Abenomics -- look increasingly unrealistic. View gallery Bank of Japan Governor Haruhiko Kuroda (R) speaks to the press in Tokyo on February 27, 2015 (AFP website Ph Prices had been on the rise, largely due to Japan having to import pricey fossil fuels to plug an energy gap left by the shutdown of atomic reactors in the wake of the 2011 Fukushima accident. But plunging oil prices have dealt another blow to the BoJ's inflation goals, and doubts are growing over the ambitious target -- even among policymakers themselves. Minutes from the central bank's January meeting showed that three of nine BoJ board members doubted the chances of reaching the price target. Kuroda has said the bank would further expand its unprecedented monetary easing campaign -- launched in April 2013 -- if necessary. - Sluggish spending - On Friday, Kuroda insisted that an expected recovery in oil prices -- they have dropped by about half since the summer -- will help the BoJ get its inflation target back on track. View gallery Japan's inflation rate has fallen to http://www.purevolume.com/warnerfnpk/posts/9453474/Farrah+Abraham%2C+Maci+Bookout+Feud%3A+%E2%80%98teen+Mom%E2%80%99+Stars+Have+Bad+Blood%3F its lowest level since http://petercfxd.wallinside.com just after Tokyo launched a high-pro "As the effects of declining crude prices dissipate, the two-percent inflation target is likely to be achieved," the BoJ chief told the National Press Club. The perennially optimistic central banker -- who signed a press club guestbook with a Japanese saying about making good on one's promises -- added that Japan's annual labour negotiations were likely to usher in pay hikes. That, in turn, would lead to a boost in spending and price hikes, Kuroda said.
Read more: http://news.yahoo.com/japan-inflation-lowest-since-war-falling-prices-began-030211000--finance.html

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