Professor Shimizu Says 2% Inflation Not Short-Term Target

The Bank of Japan's recent meeting highlighted a delay in achieving the 2% inflation target, now expected by fiscal year 2020. Governor Karoda acknowledged the challenge, emphasizing the importance of distinguishing between short-term and long-term targets. The discussion explored the significance of the 2% target in global monetary policy and the difficulties Japan faces in increasing money circulation to meet this goal.

What was the main outcome of the Bank of Japan meeting mentioned in the text?

What does the governor's admission about the inflation target imply for Japan's monetary policy?

What is the significance of maintaining a long-term inflation target as discussed in the text?

Why has Japan struggled to achieve the 2% inflation target according to the text?

How does the text describe the relationship between monetary base and inflation in Japan?