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OECD says BOJ inflation goal hard to meet, needs new commitment
The Bank of Japan must make a new commitment quickly to meet its 2 percent inflation target because achieving that goal by next spring will be difficult, a senior official at the Organization for Economic Cooperation and Development said on Monday. OECD Acting Chief Economist Rintaro Tamaki, speaking at a news conference, also urged the Japanese government to proceed with a second sales tax increase next year as planned to help fix its tattered public finances. "We assume (Japan's consumer inflation) won't hit 2 percent in a stable manner in the spring of 2015, so the BOJ should commit to maintaining monetary ... (full story)