Tide Turning in Japan Deflation Fight, BOJ’s Top Economist Says
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The Bank of Japan could reach its 1 percent inflation goal in two years as brighter growth prospects spur prices, the central bank’s top economist indicated.
“Growth in prices will be closer to the 1 percent inflation goal at or after the end of fiscal 2013 unless the economy gets thrown off course,” Eiji Maeda, 50, the BOJ’s chief economist, said in an interview in Tokyo yesterday, referring to the year ending March 2014. “In the long term, there are signs that the tide is turning in price trends.”