There are a few reports about that the Bank of Japan plans to drop its 2 year timeframe for achieving its 2% inflation target. By my reckoning they've had the 2 year target for about 3 years or so. Is that about right? So, maybe they are just recognising reality - they really are not very close as Friday's CPI data showed. Anyway, various reports that the bank will drop the 2 year time frame when they do an assessment at their September meeting. I haven't found anything concrete, but I suspect I will before the market opens on Monday. (full story)