(MENAFN- Qatar News Agency) The Bank of Japan began a two-day policy meeting Monday, during which it is likely to set a 2% inflation target and consider further monetary easing to attain the goal at the urging of Prime Minister Shinzo Abe, who has pledged to overcome chronic deflation.
According to Japanese news agency (Kyodo), if the BOJ moves to loosen its monetary grip, it would be the first time in over nine years for the central bank to make financial conditions more accommodative for two consecutive policy meetings, signaling a more drastic policy approach, analysts said.
The BOJ is widely expected to decide to set a 2% inflation target and stipulate it in a joint statement with the government, which could be released after the end of the bank's policy meeting on Tuesday.
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