The Bank of Japan's (BOJ) 2 per cent inflation target can be modified into a "range" to sustain monetary policy flexibility amid possibly higher inflation compared to pre-COVID times, former board member Sayuri Shirai said on Wednesday. Shirai, widely seen as a candidate to become deputy governor at the central bank this spring, also said there should be a review of Japan's monetary policy over the past 10 years. "The 2 per cent inflation has been achieved, while it could have been due to supply-side (factors), and the structure of inflation might have changed long-term on coronavirus, geopolitical risks and aging ... (full story)