The Bank of Japan today began its monthly meeting on monetary policy, in which it plans to maintain its ambitious battery of easing measures aimed at achieving inflation of 2 percent.
The board of nine monetary policy members of the Japanese central bank will analyze the evolution of prices towards this objective, which remains far from the reach of the third world economy, despite the fact that it is going through its period of continued expansion in almost three decades.
The index of consumer prices (CPI) stood at 0.9 percent in January, far from the goal of 2 percent that the entity wants to achieve by 2019, so the Japanese central bank is reluctant to change its course as they have done other entities such as the European Central Bank (ECB) or the US Federal Reserve (Fed).
The BoJ launched an aggressive monetary easing program in 2013 to achieve the aforementioned inflationary goal, although the drop in oil prices and the global slowdown have forced the entity to delay its completion period and activate other additional measures.
These include a negative rate of -0.1 percent for bank deposits and a control of the yield curve to maintain long-term rates around 0 percent.
The two-day meeting of the BoJ will be the last to be attended by the governor of the entity, Haruhiko Kuroda, during his current term, although his re-election as head of the Japanese central bank is expected to be endorsed by the Japanese Parliament in mid-month. .
During an intervention before the parliamentary lower house last week, Kuroda said that the entity will consider the continuation of its stimulus measures in 2019, when it plans to reach its inflationary target.